Connect with us
Advertisement
Advertisement

Business

Economy secretary names boosting productivity and attracting investment as priorities

Published

on

WALES’ new economy secretary set out his priorities against the backdrop of a significant rise in economic inactivity and a fall in employment compared to the rest of the UK.

Jeremy Miles outlined his aim to make Wales the best place to start, invest in and grow a business by productivity, attracting investment and redesigning skills support.

In a statement to the Senedd about his economic vision on April 23, Mr Miles said increasing productivity and economic dynamism will be his number one priority.

He told the chamber his second priority is to attract and encourage business investment, both in established businesses based in Wales and from new investors.

The economy secretary said his third priority is to redesign employability and skills support, ensuring that economic priorities, apprenticeships and vocational education are all aligned.

However, opposition MSs warned that Wales’ economy is underperforming and urged the Welsh Government to set firm targets to measure success.

Mr Miles, who is also responsible for energy, cautioned that ongoing financial constraints as well as political and economic uncertainty at a UK level make the aims more challenging.

He said: “The legacy of EU withdrawal, the pandemic and ongoing budgetary constraints have weakened the economy.

“The slowdown in UK productivity has impacted output, wages and household incomes, and these inequalities were already more acute in Wales before this time.”

The former education minister, who retains responsibility for the Welsh language, criticised the “cack-handed’ approach of the prime minister to so-called sick note culture.

Mr Miles described the UK Government crackdown on the number of people signed off from work as a brutal way of approaching a very complex challenge.

Samuel Kurtz, the Conservatives’ new shadow economy secretary, raised concerns about worrying trends in economic inactivity and employment

He told the chamber that statistics show Wales’ unemployment rate was 60% higher than the UK average in the three months to February.

The Tory raised alarm about a “staggering” rate of economic inactivity at 26.2%, which he said is almost 27% higher than the UK average and rising three times as fast.

Mr Kurtz, who represents Carmarthen West and South Pembrokeshire, called on the economy secretary to introduce job-creation targets.

He said it should be a sense of shame for the Welsh Government that Welsh workers have long taken home less money than their counterparts anywhere else in the UK.

Luke Fletcher, for Plaid Cymru, said sectors across the economy have been calling out for a comprehensive and meaningful industrial strategy.

The South Wales West MS described the economy secretary’s statement as “essentially a list of economic goods the government would like to see in Wales”.

Mr Fletcher warned: “But there’s no substantive plan on how those goods will be delivered, no road map, no waymarkers and no precise sense of the final destination.”

The shadow economy secretary raised concerns about skills shortages in the green sector, calling for closer collaboration with further education providers.

He said: “It’s currently a case of them putting their finger in the air, seeing which way the wind blows, and hoping for the best. That doesn’t fill me with much hope.”

Mr Miles told MSs that potential job losses at Tata remain the most high-profile concern, vowing that the Welsh Government will do all it can to protect jobs and the steel industry.

The economy secretary said a general election offers the real possibility of a better and fairer economic policy from a new UK Government.

Mr Kurtz called for the Welsh Government to confirm if it has made any financial support available to the £100m Port Talbot transition board set up by UK ministers.

Meanwhile, Mr Fletcher urged the economy secretary to look at using the planning system to protect the future of the blast furnaces.

Mr Miles stressed that the Welsh Government has supported Tata through capital investment and skills support for many years.

He said: “We’ve been pressing for 14 years for a UK Government to take seriously the future of steel and to plan for a transition to greener production.”

Continue Reading

Business

Expansion for Ashmole & Co with acquisition of Jones Ward Accountants

Published

on

CHARTERED, Certified Accountants, Ashmole & Co, are delighted to announce their expansion following the acquisition of JonesWard accountancy firm in Carmarthen.

Ashmole & Co Carmarthen has today taken over JonesWard who have closed their office in Lammas Street, Carmarthen. All JonesWard staff, including Ian Jones and James Ward, have transferred over to Ashmole & Co and will be based in the Old School, the Quay, Carmarthen.

JonesWard informed their clients that the administrative burden of running a practice had increased significantly over recent years due to the constant changing money laundering and tax regulations, software requirements and so on. Over the past 12 months it had become more challenging to maintain the level of service they had been used to providing.

Ian Jones said, “We feel Ashmole & Co share the same values as us and have the necessary expertise and resources to ensure we can continue to provide the personal touch and level of service clients have been accustomed to. Myself and James are not retiring but we will be supported by Ashmole & Co’s partners and staff from now on in their Carmarthen office.”

Ashmole & Co partners Sharon George, Carwyn Morgan and Vinal Patel will strive to ensure JonesWard clients will continue to receive the high quality of service they are used to.

Vinal Patel, Partner with Ashmole & Co said, “It is our priority to make the transition as smooth as possible with all employees of JonesWard having already transferred to Ashmole & Co and are now based in our office on the Quay in Carmarthen. We look forward to meeting our new clients and working closely with them to meet their needs in the future.”

Ashmole & Co Chartered and Certified Accountants have been established since 1897 and are one of the largest accountancies and auditing practices in south Wales, now operating from thirteen offices throughout south and west Wales including Swansea, Carmarthen, Haverfordwest and Ammanford.   

Continue Reading

Business

Dragon LNG explores integration of LNG and CO2 liquefaction processes

Published

on

DRAGON LNG, based in Waterston, Milford Haven, recently announced a significant step towards sustainable energy solutions.

The company awarded a contract to Worley, global professional services company of energy, chemicals and resources experts, to conduct a comprehensive feasibility study.

The study is focussing on exploring the potential benefits of integrating LNG (Liquefied Natural Gas)
regasification and CO2 (Carbon Dioxide) liquefaction processes at Dragon LNG’s facilities. This integration holds promise for a more efficient operation, with the potential to reduce energy consumption, carbon intensity and the levelized cost of CO2 export not only at the Dragon site but also for Haven industry companies.

If feasible, the technology at Dragon would support wider collaboration with RWE Pembroke Net Zero Centre, whose CO2 would be transported to the Dragon facility for processing before being shipped via non-pipeline transport (NPT) to carbon sequestration sites.

Key aspects to be addressed in the feasibility study include:

  • Technical Solutions: Worley will evaluate various technical approaches to seamlessly integrate LNG and
  • CO2 liquefaction processes, ensuring optimal energy efficiency and effectiveness.
  • Carbon Intensity Reduction: Dragon LNG is committed to sustainability, and the study will assess how the integration of processes can contribute to lowering the carbon intensity of operations, aligning with broader environmental goals.
  • Economic Viability: Understanding the financial implications is crucial. The study will delve into the levelized cost of CO2 and other economic factors to determine the feasibility and financial benefits of the proposed integration.

Commenting on the partnership, a spokesperson for Dragon LNG stated, “We are excited to collaborate with Worley on this important initiative. As a responsible energy provider, Dragon LNG is continuously seeking innovative ways to enhance our operations while minimizing our environmental footprint. This feasibility study represents a significant step towards achieving those objectives.”

Worley’s expertise in engineering and consultancy services including in the CO2 and LNG sectors makes them an ideal partner for this endeavour. Their track record of delivering sustainability solutions aligns perfectly with the ambitious goals of Dragon LNG.

This collaboration underscores Dragon LNG’s commitment to driving sustainable practices within the energy sector. By exploring the integration of LNG regasification and CO2 liquefaction processes, the company aims to pave the way for a cleaner, more efficient energy future with their ambition of a net zero terminal by 2029.

Continue Reading

Business

‘Sicknote culture’: Why it’s up to employers to change the status quo

Published

on

PRIME Minister Rishi Sunak’s recent speech on Britain’s sick note culture highlights how something’s ‘gone wrong’ since Covid, an expert has warned. 

An estimated 850,000 more people are currently economically inactive according to reports. 

But Nathan Shearman, director of therapy and training at Red Umbrella and a qualified psychotherapist and counsellor, said it is a multi-faceted and complex issue to tackle.

He says: “We have known for a while that the number of people who are economically inactive has been going up. And the language around it is interesting – economically inactive suggests that you’re not contributing to the country’s economy, which misses the fact that these people in a lot of cases genuinely want to work, but simply cannot.  

“Access to services is vital. That’s where the government has a big responsibility in terms of providing the services needed. And that’s where a big part of this issue lies. For those who are off work with their mental health, the lead time to get mental health support is huge.  

“In most major cities, you’re looking at a six-month lead time for counselling and therapy through your GP. That’s potentially six months you’re going to be signed off before you can even get any help or support to start to get better. 

“We know that there have been a lot of budget cuts over the years and that mental health services are significantly underfunded as a result.  

“This means that employers can now no longer rely on the NHS to help provide the solutions if and when employees need support to get over mental ill health. 

Employers must step up to fill some of those gaps and have plans in place to help both prevent and support. 

“There are steps that workplaces should be taking to improve people’s wellbeing and reduce the number of individuals that are being signed off sick.”

Outlining what some of those steps are he continued: “Education is really important from a preventative point of view, too, because if somebody comes forward and their line manager, for instance, just doesn’t know how to respond, this could be particularly detrimental. 

“Knowing how to respond and having a basic understanding of mental health is key, as there is there’s a lot of misinformation out there, as well as often, an old-school mentality surrounding mental health issues.

“That’s where mental health training becomes vital, such as Mental Health First Aid training for line managers to teach them how to support their teams. 

“That’s also really crucial when people return to work after experiencing mental health issues. There’s often an expectation that someone is just going to come back and resume working as normal, but that’s not expected with physical health issues.  

“Having managers trained up to support individuals within their team effectively when they come back means that they’re less likely to need to be signed off again. 

“Something invaluable that comes from mental health training is knowing how to make adjustments for people who may be struggling. Sometimes it’s as simple as saying ‘if you’re feeling a bit overwhelmed, just know that you can talk to me, and I’ll help you any way I can’ or just letting them know they can take a break whenever they need to. 

“That means that employees are less likely to get to a point where they are feeling overwhelmed because they know they have options. It’s also about offering additional support such as employee assistance programmes or counselling and therapy services.  

Continue Reading

Business11 hours ago

Dragon LNG explores integration of LNG and CO2 liquefaction processes

DRAGON LNG, based in Waterston, Milford Haven, recently announced a significant step towards sustainable energy solutions. The company awarded a...

Charity11 hours ago

Pembrokeshire woman runs London Marathon for charities close to her heart

A PEMBROKESHIRE woman has raised over £13,000 for good causes after challenging herself to complete the London Marathon. Terrie Savage...

Community12 hours ago

Momentum building to secure the future of Wholefoods Newport

FOLLOWING the very successful public meeting in Newport, Pembrokeshire which was held to discuss bringing the much-loved local wholefoods shop...

News4 days ago

Council seeking legal advice to address Withyhedge enforcement

PEMBROKESHIRE County Council says it has sought legal advice and is contemplating legal proceedings against Withyhedge Landfill operators RML, in...

News4 days ago

Beautiful, funny and lovely: Family pay tribute to Sian Batchelor

THE family of a woman has paid tribute to a “beautiful, funny, lovely person.” Sian Batchelor, aged 32, was found...

Community4 days ago

Locals’ concern as St Davids scout hut threatened with demolition

THERE is widespread concern over the future of St David’s Scout Hut in Ffynnon Wen, which faces potential closure and...

News5 days ago

Police investigating after woman found dead on beach near Pennar  

DYFED-POWYS POLICE have confirmed they are investigating the death of a woman who was found on a beach near Pennar...

News5 days ago

Police discover body in search for Luke Stephenson, 19

POLICE have confirmed the sad news that they have discovered a body during their search for 19-year-old Luke Stephenson, reported missing from the...

Crime6 days ago

Llandissilio man accused of making hundreds of child abuse images

A 25-YEAR-OLD Llandissilio man has appeared before a District Judge charged with making 258 Category A images of a child....

Community1 week ago

Solemn tributes at Freshwater West for WWII maritime tragedy

IN an emotional gathering at Freshwater West, Pembrokeshire, the public and veterans convened on April 29, to honour the memory...

Popular This Week