Mr Martin Vaughn SWA 24th May 2013 offers a serious jump in logic re Welsh GVA. Yes some UK regions have seen a reduction in GVA against the UK index. Not many of those regions have spent £6,000,000,000 of Structural Aid, only to have GVA fall! It’s not just the fall in Welsh GVA that has to be understood, it’s they make up of Wales GVA that’s so terrifying.
Wales GVA is massively dependent of the public/civil sector, to the value of 68% of GVA. Imagine over two thirds of GVA dependent on public/civil sector. The Con/Dem spending plans indicate ever more austerity, the Labour Assembly states their priorities are economic, health and education, the major spending departments, all the areas they have failed, in the past.
In fact some estimates show a fall of over 50% in some areas, the net result will be massive service cuts, followed by savage job losses, followed by GVA falling off the graph. Remember how Labour was going to close the GVA gap by 1% a year? The Welsh Economic Development Plan Labour devised, lasted for about two years.
Wales GVA is £15,145 per head, the Gwent Valleys at £10,654 is the lowest of 133 regions a fall of 11% against the UK Index since the Assembly’s creation. I suggest Labour has failed Wales, economically, educationally and on health.
Graham Simmonds, Bonnie View,
Blackwood
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