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A decade for Wales to recover from the recession

According to the forecasters Oxford Economics, up to one million workers are set to lose their jobs over the next two years, with Wales taking up to a decade to recover pre-recession job levels.

On top of that news, the FSB predicts that up to 1,200 small firms in Wales could go bust by the end of the year.

What should the Assembly Government do?

Certainly, the ProAct scheme which has been trumpeted across the press has come into some criticism within Whitehall, which seems reluctant to support its expansion across the rest of the UK.

The solution is clearly one of confidence, which begins by getting credit out to business, something which this government has failed to do.

Has the Assembly Government seriously examined the use of European Funding to do this, as suggested on this blog last year?

I could be wrong but there seems little evidence of this and very little impetus to get cash out to Welsh companies.

Comments

Anonymous said…
a decade - you're being optimistic for once!
March 17, 2009 8:46 pm
Anonymous said…
Here I am a Welsh Company with possibilities, no one wants to help me.
I do better in England, may be that's what Welsh SMEs should do.Emigrate to England
March 17, 2009 9:19 pm
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