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Wales hit harder by cost-of-living crisis with £20K pay gap

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RESEARCH reveals salary expectation gap, with Wales workers feeling £43,000 would be needed to live comfortably, against the £23,000 ONS average salary for the region. The Wales wage gap is £6K more than UK national average of £14K. 40% believe they could get paid more elsewhere NAD 46% are now considering looking for a new job.

Workers in Wales are being hit harder than the rest of the UK during the cost-of-living crisis, with the average worker wanting £20K more per year in order to live comfortably.

Research conducted by Reed revealed salary expectation gaps across the UK – with workers in Wales feeling £43,000 is a comfortable salary to live on, whereas in comparison, the average wage in the region is currently £23,0001.

Pinning this against the national statistics, Wales is experiencing a more intense wage gap, with the average salary expectation gap across the UK being £14K.

As part of Reed’s annual salary guides, the recruiter analysed more than 17 million job adverts and asked 5,000 UK workers a range of questions on their salary and benefits – both current and expected. Workers on the UK’s average salary of £35,000 would need a 40% pay rise to survive the sharp increase in the cost of living – totalling up to a substantial £1.2K extra per month to keep up. To compare, workers in Wales would need an extra £1.6K per month.

Becky Hole, Senior Regional Director for Wales at Reed, said: “The ongoing cost-of-living crisis has hit Wales a lot harder than other UK regions, with the wage expectation gap being one of the biggest.

“Remote working presents an even bigger challenge to companies looking to recruit in Wales – often offering higher salaries. This, on top of the threat from companies over the bridge on the Southeastern side of the country, means businesses in Wales need to look to benchmark what they are offering to new and existing employees in order to attract and retain people.

“Across the board, we’re seeing a higher number of job applications as people look to battle the bite of the economic climate, so it’s important that even if high salaries can’t be offered, businesses look at benefits and reward packages that really appeal on an individual level.”

In addition to this, 33% of workers in Wales felt that their financial outgoings were negatively impacting their mental health, with 26% not feeling confident that they will achieve their financial saving goals as planned. The research also unveiled that 46% are actively looking for and considering new job opportunities, with 40% believing they could get paid better elsewhere.

Reed has produced a suite of 16 sector-specific salary guides, which includes an in-depth analysis of a survey with 5,000 UK workers, assessing their current and preferred salaries and benefits, their organisation’s performance and priorities, how they rated their job security and the future of their sector, and the key recruitment and skills trends they’re witnessing.

Business

Ogi secures £45million package to support next stages of growth

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Ogi – Wales’s biggest alternative telecoms company – has reached a deal on a new £45million financing package from Cardiff Capital Region (CCR), alongside ongoing equity investment from its principal shareholder, Infracapital, to support the next stages in the company’s growth.

The latest funding package will see Ogi extend its reach in the ten local authority areas that make up CCR (Blaenau Gwent, Bridgend, Caerphilly, Cardiff, Merthyr Tydfil, Monmouthshire, Newport, Rhondda Cynon Taf, Torfaen and the Vale of Glamorgan) where it already has an established presence.

An important region economically, CCR also includes Ogi’s multimillion-pound high-capacity network spanning the south Wales trunk road into England. Built to service the growing need for cloud computing, AI and data storage, and serving the fast-growing fintech and creative sectors, among others, the new diverse route also increases Wales’s appeal to datacentre operators, mobile carriers and hyperscalers.

Securing its first round of investment from Infracapital, the infrastructure equity investment arm of M&G plc, Ogi propelled onto the scene in 2021, bringing full fibre connectivity, telephony, and business IT services to underserved communities across Wales, as well boosting the alternative options available in major cities and new and emerging commercial zones too.

The challenger to the incumbent operators has since built a new fibre to the premise [FTTP] network to over 100,000 premises in south Wales, with 1 in 5 of those already signed up as a customer.

With a distinctive Welsh brand, Ogi roots itself in the communities it serves, with a hyperlocal marketing approach backed by an award-winning community engagement programme that’s given thousands back to local groups and charities.

Each ‘full fibre’ community benefits from a capital injection of around £5million, with the long-term economic impact estimated to be worth almost £5 for every £1 invested. The Ogi network uses more sustainable technology compared to traditional copper connections too, helping more people to work from home, reducing the need to commute, and in turn reducing carbon emissions across the region.

Announcing the deal, Ogi’s Chief Executive Officer, Ben Allwright, said: “Right from the start, our ambition has been to become a leading Welsh telecoms company, and the last few years have certainly laid strong foundations for that goal.

“With key strategic sites like Aberthaw to the south and the heads of the valleys to the north, there’s massive potential across the capital region – and partnering with CCR at such an exciting time in their own development is the next logical step for Ogi’s growth in southeast Wales.

“Together with further investment from our principal shareholder, Infracapital, this is yet another endorsement of our mission to make sure no Welsh community gets left behind.

”I’m immensely proud of the work the team at Ogi are doing across Wales, and this news – another leap forward in Ogi’s development – is testament to their commitment to making sure Wales keeps up to speed with the rest of the UK, and the world.”

Chair, Cardiff Capital Region, Councillor Mary Ann Brocklesby, added: “Ogi has taken regeneration to a new level with its initial investment – connecting communities to new possibilities right across the Cardiff Capital Region and beyond. Our investment into Ogi recognises that ongoing commitment to boosting the region, and the work already being done to bring vital connectivity to some of Wales’s biggest towns and villages”.

Ogi was advised on the transaction by Deloitte and CMS Law acted as legal counsel for Ogi and Infracapital.

Previously announced programmes in communities outside of the 10 local authority areas that make up the Cardiff Capital Region – including Pembrokeshire – will continue as planned.

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Business

Japanese public transport digital expertise coming to Wales

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TRANSPORT FOR WALES has selected global company Hitachi to help digitally transform public transport within Wales, making it easier for customers to plan, book and pay for different modes of travel.

Over the next five years, Hitachi will deliver a multimodal digital booking system that will include all modes of public transport and be available to customers through a simple user-friendly app.  

Rail, local bus, fflecsi and TrawsCymru services will all be available to plan and book through the one digital back-office solution from Hitachi.  It will also host other micromobility (bikes, e-scooters) and demand-based mobility solutions already being used in Wales. 

Hitachi has previously used this ‘Mobility as a Service’ (MaaS) technology in Japan, most notably on the Tokyo Metro. 

Hitachi Rail will use its knowledge and experience of digitally connecting millions of journeys every day in Japan to deliver a bespoke and unique solution for Wales.   

Marie Daly, Chief Customer and Culture Officer at TfW said: “At TfW we’re always looking to improve the customer experience and in doing this we want to attract more people to our public transport network. 

“This exciting and ambitious project will deliver a digital solution that will help our customers plan point to point journeys using different modes of public transport.  It’s all part of our longer-term plans and aspirations to provide our customers with one network, one timetable and one ticket.  

“We look forward to working with Hitachi and bringing this global expertise to public transport in Wales.”  

Justin Southcombe, Commercial Director at Hitachi Rail said:  “This strategic partnership with TfW will benefit from the breadth of mobility, digital and behavioural science expertise that exists in the Hitachi Group.  

Hitachi can combine the latest in cutting-edge digital technology, with deep knowledge of managing some of the world’s most popular public transport systems, to better connect public transport.  

By making public transport more accessible and user-friendly, Hitachi can help increase sustainable travel in Wales.”  

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Business

Plans for holiday lodges near Tavernspite village refused

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A SCHEME for an extra five holiday lodges near an existing lodge near a Pembrokeshire village has been turned down by county planners.

Alan McTear, in an application through agent Milsom Architectural Services, sought permission for three two-bed and two one-bed holiday lodges at Mountain Town, some 600 metres from Tavernspite.

Letters of concern had been raised over issues including a claimed visual impact, highway safety, and a claimed failure to comply with LDP policies.

An officer report, recommending refusal, said: “The proposal seeks to erect an additional five holiday lodges in a linear form, extending east and west of the existing single holiday lodge. The lodges would each have private parking an amenity areas and whilst the proposed site plan details a hedgebank boundary around the application site no details have been provided.

“The lodges would have a similar scale and design as the existing holiday lodge, they would have brick plinths and a timber clad finish to the external walls. The amount of development would be such that it would result in a significant increase in the built form of development which would extend into the countryside the whole along the whole length of the access track. It is considered that this would result in a significant detrimental impact to the character of the site and the surrounding rural landscape.”

It adds: “The proposal fails to comply with the relevant Local Development Plan policies.”

The application was refused on grounds including the scale of the accommodation, including the extension, would not be compatible with the countryside location, it would result in encroachments into the countryside, highway issues with an access lane, and it failed to provide a Green Infrastructure Statement.

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