Jo Stevens says funding will support semiconductor growth and skilled jobs in Wales

WALES is set to benefit from a share of a transformative £86 billion research and development funding package aimed at powering economic growth and creating skilled jobs across the UK.

As part of the UK Government’s “Plan for Change,” a new Local Innovation Partnerships Fund will provide regions—including Wales—with direct investment to develop their own innovation clusters, with local leaders helping decide how the money is spent.

South Wales has been highlighted as a key area for the development of cutting-edge semiconductor technologies—vital components in everything from mobile phones to electric vehicles. Ministers say the investment will support new jobs and boost the region’s reputation in advanced electronics.

Welsh Secretary Jo Stevens said: “Wales is home to a growing tech sector and this significant investment from the UK Government will help it develop and expand even further. As we deliver our Plan for Change, we are investing in innovation and research, creating more opportunities in the industries of the future and driving economic growth across Wales and the UK.”

The announcement comes ahead of the Chancellor’s Spending Review, where it will be confirmed that the UK will invest £22.5 billion per year by 2029 in R&D across multiple sectors, including tech, life sciences, defence and manufacturing.

Alongside the main package, up to £500 million will be distributed across the nations and regions of the UK, with a minimum of £30 million expected to be allocated to one Welsh region, agreed in partnership with the Welsh Government.

Science and Technology Secretary Peter Kyle said the move would allow Swansea, Cardiff and other innovation hubs in Wales to “harness local expertise and skills,” while building on existing strengths in AI, life sciences and green energy.

The UK Government said the investment is expected to generate long-term returns—with every £1 spent on R&D predicted to deliver up to £7 in economic benefit and create thousands of high-skill jobs.

The fund builds on existing innovation accelerator pilot schemes and is seen as key to ensuring regions like West Wales and the Valleys are not left behind in the race for clean growth and advanced digital infrastructure.

The Herald understands that Welsh universities, tech start-ups and manufacturing clusters will be able to bid for support through upcoming competitive rounds, with guidance to follow from UK Research and Innovation (UKRI) in the coming months.

A POPULAR restaurant in Narberth has closed its doors and is now up for sale.

Madtom Land & Sea, known for its fresh seafood and highly rated dining experience, announced the closure this week, bringing an end to six years of trading in the bustling Pembrokeshire town.

The team behind Madtom shared the news on social media, saying the decision had been made “with a heavy heart” and that it was “time to slow down a little, gather our thoughts and focus on the next chapter.”

The restaurant, which boasts more than 300 Tripadvisor reviews and a near-perfect Facebook recommendation rating, has now been listed for sale. Interested parties are encouraged to get in touch to arrange viewings.

The statement thanked customers and staff, saying: “Thank you to everyone who has supported us over the past six years, and to our fantastic team—we couldn’t have done it without you.”

The announcement prompted an outpouring of messages from loyal customers and locals.

Kevin Clarke wrote: “Amongst the best dining experiences in Pembrokeshire. Good luck for the next chapter.”

Sue James-Davies said: “Very sorry you are closing but wish you all the very best for the future. Narberth won’t be the same without you.”

Caroline Husecken added: “So sad that you have closed—you will be so missed by us all in Narberth. You have been a huge asset to the town.”

The business is currently being marketed via private enquiry.

CO-FOUNDER and Chair of Specsavers Doug Perkins, has been made a Commander of the Order of the British Empire by His Majesty King Charles in this year’s Kings Birthday Honours List, for his services to business and trade.

Specsavers was formed by Doug and his wife Dame Mary, from Carmarthenshire, in 1984 and is now the largest private eye and hearing care provider in the world, winning global recognition for its famous ‘Should’ve Gone to Specsavers’ strapline and humorous approach to marketing. As well as an innovative approach to pricing and advertising, Doug applied a pioneering joint-venture partnership model to the optical industry. Each Specsavers business, which now number more than 1,000 in the UK alone, is part-owned and managed by its own directors, who are shareholders, supported by a comprehensive supply chain and specialists in various support offices, providing services such as marketing, accounting and IT.

Doug has always been very much involved with the day-to-day running of the business and is passionate about innovation and clinical excellence. He spearheaded the rollout of OCT scanners in all Specsavers stores and continues to champion the role optometrists and audiologists play in supporting the NHS and delivering healthcare in the community.

‘I can’t tell you how honoured I feel to receive this award for services to business as I have dedicated my entire career to helping people to see and hear more clearly. But more importantly, this is recognition for the 45,000 people around the world who work for Specsavers and for our ophthalmic surgery business Newmedica and their dedication to changing people’s lives through better sight and hearing,’ he says.

‘Together, we have achieved so much since we started this business more than 40 years ago from pretty humble beginnings and it’s really quite incredible that we are now offering our services to more than 48 million people, as far afield as Canada and New Zealand, and have a robust supply chain that spans the world from the UK and Europe to Asia Pacific. None of that could have been achieved without loyal, hardworking, visionary colleagues and partners. My wife Mary and I recognised from the very beginning, when we started the business together, that we needed to surround ourselves with people with the right skills to propel as forward if we were to achieve our goals of offering value for money and experts who truly care.’

Born in Llanelli, Wales, in 1943, the son of a police sergeant and a farmer’s daughter, Doug has been industrious from a young age and had jobs as an errand boy, laundry delivery driver and assistant at a local chemist. He credited this experience as instilling in him the value of hard work and inspiring in him a passion for healthcare and retail.

Doug qualified as an optometrist from Cardiff College of Advanced Technology in 1965 where he met Mary Bebbington. Together they founded Bebbington and Perkins Opticians, which they sold in 1980 before moving to the island of Guernsey to be closer to Mary’s parents, who had retired there. Doug still goes into the Guernsey office every day and travels extensively to support business growth and the industry sector as a whole.

‘I am just as passionate now as I ever was about the future of optometry, ophthalmology and audiology, as well as further opportunities and expansion of the Specsavers group, which includes our Newmedica eye hospitals in England. Improving access to expert eye and hearing care for everyone, regardless of their circumstances or where they live, has been and will continue to be our driving force and I have no intention of retiring as long as I can continue to be useful to that cause,’ he says.

The company was put into a family trust some years ago to ensure that it would continue to operate under the Perkins stewardship and prevent it being sold into private equity. It remains very much a family business, with son John Perkins as CEO and four of their seven grandchildren already very much involved in the organisation.