Young people don’t have to ‘get out’ of Wales to ‘get on’, says economy minister

The Welsh Government has encouraged more young people to stay in Wales as part of a drive to improve the country’s economy.

Economy minister Vaughan Gething said today that the government would pursue a “progressive” economic policy that focuses on better jobs and tackle povery.

He invited businesses, trades unions and local government leaders to discuss how “Wales can create a stronger, fairer, greener economic future”.

The information provided at an economic shows the government wants to “start a conversation” about the long term demographic challenge facing the Welsh economy.

Figures show the proportion of the population aged 16 to 64 years old in Wales has been decreasing year-on-year since mid-2008 – and could be just 58% of the population by 2043.

In response, the government’s approach will be geared towards “creating an economy where more young people feel confident about planning their future in Wales thus supporting job creation and more dynamic local economies”.

Speaking ahead of the summit, Mr Gething said: “The Welsh Government is taking bold action to build a stronger, fairer, greener Welsh economy.

“It has taken a Team Wales effort to keep Wales safe and we will deliver a Team Wales Recovery, built by all of us.

“A strong Welsh recovery will be based on the principles of fair work and sustainability as we invest in the industries and services of the future.

“As we face the headwinds of Brexit, I am determined that our credible plans will offer as much certainty as possible to help businesses plan ahead.

“A new era of partnership for stronger regions, a young person’s guarantee, a plan to back our everyday economy and collaboration with world leading, advanced manufacturing.

“This is the cause for optimism for the future we are building in Wales.

“My ambition is to make Wales a place where more young people feel confident in planning their future here. You don’t have to get out to get on, make your future here in Wales.”

The government said it would take the following approach to achieving its goals:

• Investing in our people – through the Young Person’s Guarantee and a strong employability and skills offer, including Apprenticeships;
• Supporting those furthest away from the Labour market to find work. The upcoming Employability Strategy will highlight the support available for individuals, particularly those most impacted by the pandemic and furthest away from the labour market;
• Accelerating the adaptation to new skills which are required for skilled, secure jobs, not least in the area of low carbon. The current recruitment challenge has also shown there is a need for some quick action on skills in certain sectors;
• Exploring how we retain our graduates and talent in Wales by building strong linkages with universities, and between universities and businesses;
• Support start-ups, including graduate start-ups, with possible incentives in some areas;
• Ensure we have firms grounded in Wales who can provide future opportunities;
• Wales can also benefit from the opportunities for far greater remote working and flexible commuting options.