Why modern industry promises decade of opportunity for Wales

Here, Stephen Kinnock, MP for Aberafan Maesteg, suggests wind, hydrogen and electrification will be at the centre of new industrial growth and innovation

- Stephen Kinnock

IN JULY 2024 a UK Labour Government was elected with a resounding majority, based on manifesto pledges to deliver real economic growth, to make Britain a clean energy superpower, and most importantly, ensure that working people benefit from change.

Let's be clear; there is no contradiction in these terms. The CBI, which represents the drivers of capitalism, published a report last week showing that the UK's green economy is powering ahead - worth more than £100bn a year, benefiting all of the UK with more than a million jobs, higher wages, and nearly half a trillion pounds of investment in the pipeline.

But it is of course vital that we make the journey work for our people; so that Wales’ geographical advantages are seized upon; that our proud industrial history is built upon and our local workforce is called upon.

There is a huge opportunity now for Wales, and in particular Port Talbot, to lead the way in moulding Labour's growth and clean energy missions into a strong and viable industrial strategy - powered by what I have been calling for the last decade “a modern manufacturing renaissance”.

Wales was the cradle of the first industrial revolution.

Now we can be the epicentre of modern industrial growth and technological innovation. Wind, hydrogen and electrification will be the copper, coal and iron of this modern energy revolution.

The prize? A golden triangle of opportunity: home-grown energy to improve our national resilience and bring down household bills; clean energy and power that will protect the planet and safeguard the health of future generations; good jobs that offer opportunities aplenty to local people.

That is why I am so pleased to see the confidence being placed in our region by private and public investors.