Monday, 21 January 2013

It's the stupid economy

Depending on where you sit in the Senedd, the imperatives for boosting economic growth are to either get out there and sell what Wales has to offer or else create a business bank to help indigenous firms. The reality of course is that both are important. Business needs investment and it also needs new markets. What is doesn't need is politicians & civil servants who think they understand the commercial world.

Every other speech by party leaders these days emphasises how Wales desperately needs entrepreneurs. What they mean by this description is people who are prepared to take risks with their own money in a nation where labyrinthine government procedures can take up to nine months to work out if someone is authorised to take a decision let alone actually make one. Unsurprisingly, Welsh entrepreneurs are as scarce as reindeer shit and those who make it soon move abroad.

Wales has never been short of innovations ever since the Assembly came into being. What it suffers from however is a paucity of actual achievement. For example, how may people remember the Regeneration Investment Fund for Wales (RIFW) launched by the Labour-Plaid One Wales government which was created to provide last-resort loans to struggling businesses and ended up getting investigated over land deals? Only in Wales could government manage to make the sustainability business unsustainable.

As much as Cardiff Bay politicians may try bang the drum in different ways, the harsh commentary on their record to date is that they have signally failed to match the success rate, investment ability and brand recognition of an outfit they consigned to the bin in April 2006 and which should be brought back pronto! 


  1. a good post and all true, but how do we make the politicians and civil servants see sense when there are no consequences to their actions or lack of them over matters economic?

  2. Question: What's the Welsh for "entrepreneur"?
    Answer: What's the bloody English for it?


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