(Title Image: South East Wales Regional Engagement Team)
An OECD report (pdf), commissioned by the Welsh Government, has backed greater fiscal and economic development powers for Wales as part of efforts to develop a new regional development policy after Brexit.
The report also called for greater financial flexibility for local authorities, the establishment of a Welsh Government office dedicated to regional development (which has been suggested as pointing towards a resurrection of the Welsh Development Agency) and regional co-operation/regional government (which has been proposed as part of the Local Government Bill).
However, the report said these measures require the necessary administrative capacity within local authorities to use enhanced financial powers. Also, while Wales performs relatively well in terms of general well-being compared to the OECD average, it underperforms in health, education and incomes.
Responding to the report, Economy & Transport Minister, Ken Skates (Lab, Clwyd South), said: “The changes we have outlined through the Economic Action Plan to boost regional economies across Wales are profound, as is our ambition for stronger regional partnership working in Wales to boost inclusive and sustainable growth.”
