Putting businesses at the heart of levelling up in Wales

Think tank: Institute of Welsh Affairs

Author(s): Will Henson

July 14, 2022

This report from UK think tank the Institute of Welsh Affairs argues that businesses in Wales need clarity and flexibility to help make Levelling Up a success.

Over six months on from the release of our first paper, What Does Levelling Up Mean for Wales?, the rollout of the UK Government’s Levelling Up agenda has increased national awareness of economic and social inequalities between the four nations, but also highlighted some contentious areas in the relationship between central and devolved authorities. In this report, we turn to the role of businesses, and how all governments can maximise their role in increasing productivity and developing the economy.

Regional development funding is transforming radically: from 2022-25, the UK Government will distribute £585mn in regional development funding to the four Welsh City & Growth Deal regions through the UK Shared Prosperity Fund, replacing previous arrangements relying on EU funding.

This new report gives voice to the concerns of businesses, following on from a roundtable we held on 23 June 2022, in which we heard from government officials from local, Welsh, and UK Government, as well as business representative organisations.