Businesses from across the Western Gateway joined forces with local MPs and local leaders yesterday to celebrate the area’s plans to double the size of their economy by 2050 adding £250bn to the UK economy.
The event was hosted by the Western Gateway Partnership in partnership with leading place-based impact investor, Bristol and Bath Regional Capital.
The event follows the 2024 Convention for the Western Gateway which brought together 600 business leaders, local authorities and academics at the International Convention Centre Wales in Newport to launch the area’s new “Plan for Sustainable Growth”.
The Plan sets out how the area can capitalise on it’s potential to become the fastest growing economy outside of London over the next five years according to evidence from Oxford Economics. With 13 low or no-cost opportunities for governments in England and Wales to partner with the area to increase private sector investment, support world leading innovation, better connect communities and thereby boost the UK economy and growth mission.
The event in Westminster was an opportunity for ministers and MPs to engage with business across the area to collaboratively boost the economic prosperity of this cross-border economy. Hosted by Chair of the Parliamentary Labour Party, Jessica Morden MP, the event featured speeches from Dame Nia Griffiths MP, Parliamentary Under-Secretary for Wales, and John Glen MP, Shadow Paymaster General.
Jessica Morden MP, said: “It’s lovely to see so many people from South Wales and Western England in a real blend of political, industry, business and education. As we all know, the Western Gateway area continues to demonstrate a really phenomenal appetite to convene talent and capability across critical areas for the future.
“The Western Gateway Partnership really wants to ensure the area delivers for everybody in it and that’s what this Plan for Sustainable Growth is all about. We already have the people, the natural resources the pre-existing key sectors and, vitally, a committed and coherent partnership focused on making the very best of the abundant assets.”