Wealth figures highlight state of economic decline say Tories

Today’s publication of the latest Gross Value Added (GVA) figures showing that prosperity levels in Wales remain the lowest of any UK nation or region.

Shadow Minister for the Economy David Melding AM said: “Today’s figures show that ministers’ claims to be confident of delivering economic prosperity for Wales have a very hollow ring.

“A decade of failed Labour economic policies has left Wales as the poorest part of the country with little sign of improvement as the economy struggles in recession.

“These figures underline the fragility of the Welsh economy and demonstrate how little progress has been made in bringing it up to the levels of other parts of the United Kingdom.”

Shadow Secretary of State for Wales Cheryl Gillan MP said:

“These depressing figures are a measure of the decline the Welsh economy has suffered under Labour and Plaid Cymru.

“They show just how far Wales has fallen behind other parts of the United Kingdom.

“And they demonstrate the urgent need for a change of direction with a focus on the priorities of getting people working, supporting businesses, and tackling the mountain of debt built up by Gordon Brown.”