Should we be worried when a candidate for the job of First Minister shows a distinct lack of knowledge of the state of the economy?Judge for yourself from the interview today with Edwina Hart in the Western Mail where she made the following statement in response to a question on the future of the Welsh economy:
“The key story of the Welsh economy, until the recession, was of its success. The UK economy grew at a faster rate than other industrialised nations; the Welsh economy grew faster than the UK economy and, within Wales, the economy of West Wales and the Valleys grew faster than Wales as a whole".
This sounds like great news until, of course, you examine the veracity of each of these statements in relation to the time period since Labour came to power in 1997.
The UK economy grew at a faster rate than other industrialised nations
INCORRECT - During the period 1997-2007, Ireland registered the greatest increase in real GDP per capita, followed by the Republic of Korea, Hong Kong, Sweden and Spain.
The Welsh economy grew faster than the UK economy
INCORRECT - During the period 1997-2007, GVA has grown in the UK by 68.7 per cent. In contrast, GVA in Wales has grown by 54.1 per cent – the lowest of any UK region apart from the West Midlands. England grew by 69.1 per cent.
Within Wales, the economy of West Wales and the Valleys grew faster than Wales as a whole
INCORRECT – During the period 1997-2006, GVA in West Wales and the Valleys grew by 42% as compared to 53% for East Wales. Whilst it would be correct to say that the gap has begun to close during the last few years between the two parts of Wales, that is not surprising given the additional billions poured into the region during the period combined with the decline of Wrexham and Flintshire, which grew by only 29% over the decade.
I am surprised no-one has picked up Mrs Hart on these 'exaggerations' regarding the state of the Welsh economy.
One can only hope, if she is successful next week, that she does not use the same statement as the basis for the real economic policies needed to bring Wales out of recession.
Comments
She actually has no broad knowledge of how any part of the Welsh economy works
She just regurgitates labour spin.
her knowledge of most things is restricted to her patch in Swansea.
Which is scary.
I am surprised the WM didn't challenge her , or any of the Plaid Blogs
I just hope that Carwyn Jones is more up to speed on the economy,or at least that he will get good advisers
well the prof wont be one of them
Do we know if Carwyn Jones as First Minister will have the same economic advisers as Rhodri Morgan?