'Serious concerns over Growth Deal'

Committee has written to UK and Welsh governments

- By OWEN HUGHES Business Correspondent [e-mail]

SERIOUS concerns have been raised by a Senedd Committee about the performance of Welsh City and Regional Growth Deals, particularly the North Wales Growth Deal and the Cardiff Capital Region City Deal.

They said the North Wales Growth Deal has struggled because one of its key projects, Trawsfynydd, has fallen though.

The deal - which is backed by £120m in funding from both the Welsh and UK governments - was signed back in 2020 and is managed by Ambition North Wales.

Its objectives included creating up to 4,200 new jobs by 2036, support an uplift of £2bn-2.4bn for the economy over that same period, and deliver total investment of up to £1.1bn.

Projects ranged from unlocking sites like Parc Bryn Cegin to future proofing Holyhead port and bringing 5G to major road and rail routes.

So far the deal has only created 35 jobs and the committee says it needs urgently turning around if it is to deliver for the people of North Wales.

The Senedd’s Economy, Trade and Rural Affairs Committee has written to the Welsh and UK Governments, urging closer monitoring of investments in the four Welsh City and Regional Growth Deals, which are accountable for a substantial amount of public funding.

Andrew RT Davies MS, Chair of the Senedd’s Economy, Trade and Rural Affairs Committee said: “The four City and Growth Deals should be a key driver for economic growth in Wales and be creating a bright economic future.