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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.” 

Dame Nia Griffith MP, said: “I am absolutely delighted at the work you’ve put into this strategy[…] As we all know, the Western Gateway is an absolutely unique area.  It’s unique in the geography, spanning two countries but it’s also unique in its wide range of high-tech industries, thus enhancing opportunities for investment and innovation.  

“We’re absolutely clear we want growth and prosperity in all regions of the UK.  But equally, we can’t achieve the sort of growth we want unless we have the input from regions and nations.   The Western Gateway area is uniquely placed to benefit from these opportunities; you’re absolutely ready to run with this agenda, you’ve laid the strong foundations […] .

 John Glen MP, said: “We have such a range of opportunities both in terms of new energy and new opportunities of the economy.  We must prioritise and we must have a clear ask given that we are competing with other regions of the UK notwithstanding the excellent growth we’ve seen so far in our area. 

“I look forward to, if I’m needed, to making a contribution to this effort.  We have got to collaborate across parties and recognise the common good that come from that work.” 

Cllr Huw Thomas MP, Leader of Cardiff Council and Vice Chair of the Western Gateway, said: “We are ready to build on our foundations to deliver the next step towards sustainable growth.  Our Plan for Sustainable Growth is a bold, but practical set of win-win commitments from our area to work in Partnership with Welsh and UK governments for growth.  These come with the backing of business, local authorities and universities and is verified by independent data analysis of our current potential. 

“We are shovel ready to deliver on the Government’s mission for growth.  But we can’t do this without UK Government support – and that is the ask for MPs and Peers in the room here today.” 

Ed Rowberry, Chief Executive of BBRC, said: “We strongly welcome the Western Gateway’s plan for sustainable growth and we think BBRC has a key role to play in its delivery. To date, as a place-based impact investor we have delivered over £70 million investment into our region. Our focus now is on scaling up the impact of what we do, working in partnership with the Western Gateway and other key players across the area to ensure that we help leverage as much investment as possible into our region”.  

Yesterday morning, 45 businesses and other local organisations from across the area wrote to Government to call on Government to back the plan and support the partnership to deliver on the cross-border economy’s potential. 

Western Gateway’s “Plan for Sustainable Growth” can be read here.

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