South Wales and South West: Economic Situation

Ministry of Housing, Communities and Local Government written question – answered at on 25 November 2024.

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Photo of Baroness Wilcox of Newport Baroness Wilcox of Newport Labour

To ask His Majesty's Government what assessment they have made of the potential for growth in South Wales and Western England over the next five years; and whether the English Devolution white paper will include measures to maintain collaboration to support the cross-border economy in that area.

Photo of Baroness Taylor of Stevenage Baroness Taylor of Stevenage Parliamentary Under-Secretary (Housing, Communities and Local Government), Baroness in Waiting (HM Household) (Whip)

A recent economic assessment undertaken by Oxford Economics, commissioned by Western Gateway on behalf of HMG, forecasts that the West of England and South Wales economies have the potential to grow by 1.4% a year between 2024 and 2029, slightly ahead of the UK excluding London, and if fully recognised, also ahead of other comparable growth areas such as the Oxford-Cambridge Arc and the Scottish Central Belt.

HMG is also currently undertaking the consultation phase of our new industrial strategy delivering a 10-year plan for growth across the UK and would encourage all regions to participate to be part of a modern and ambitious economic vision for the country.

HMG has already announced the Council of Nations and Regions, which will support cross-border collaboration by bringing together the Prime Minister, Deputy prime minister and the Chancellor of the Duchy of Lancaster with the heads of the devolved governments and the mayors of combined authorities, combined country authorities and the Mayor of London, to consider shared opportunities and lessons on best practice across the UK.

Industrial strategy (pdf, 1586.2KB)

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White Paper

A document issued by the Government laying out its policy, or proposed policy, on a topic of current concern.Although a white paper may occasion consultation as to the details of new legislation, it does signify a clear intention on the part of a government to pass new law. This is a contrast with green papers, which are issued less frequently, are more open-ended and may merely propose a strategy to be implemented in the details of other legislation.

More from wikipedia here: http://en.wikipedia.org/wiki/White_paper

Deputy Prime Minister

The office of Deputy Prime Minister is one that has only existed occasionally in the history of the United Kingdom. Unlike analogous offices in other nations, the Deputy Prime Minister does not have any of the powers of the Prime Minister in the latter's absence and there is no presumption that the Deputy Prime Minister will succeed the Prime Minister.

The post has existed intermittently and there have been a number of disputed occasions as to whether or not the title has actually been conferred.

More from wikipedia: http://en.wikipedia.org/wiki/Deputy_Prime_Minister_of_the_United_Kingdom

Prime Minister

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Chancellor

The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.