Business
Concerns over risk to public funds in TVR deal

TAXPAYERS could face a multi-million-pound bill after the Welsh Government spent more than £14m on a failed attempt to attract sports car manufacturer TVR to Wales.
Adrian Crompton, the auditor general for Wales, said the Welsh Government spent £4.75m buying the former Techboard factory in 2021 and £7.6m on refurbishment.
TVR received a £2m five-year loan and a £500,000 investment from the public purse, with the aim of creating 150 jobs and building 2,000 sports cars in Ebbw Vale by 2020.
But at the turn of 2024, the carmaker confirmed it no longer wants to lease the factory – or locate production in Wales – after announcing a new base in Hampshire.
Mr Crompton, who oversees the annual audit of some £24bn of public money, said selling the building for a market value of about £7.5m would net taxpayers a loss of £4.85m.
In a letter dated July 12, he told a Senedd committee that ministers have been trying to find an alternative tenant since November, with TVR paying a £322-a-month rent in that time.
Mr Crompton wrote that the 180,000 sq ft factory – which could generate an income of about £735,000 a year – has attracted some market interest but no formal offers.
Wales’ auditor general said Welsh Government officials’ advice was not to award a contract for the factory refurbishment in advance of a lease agreement with TVR
But he told the public accounts committee: “In August 2020, the minister wrote to TVR telling them the Welsh Government would progress refurbishment with or without them.”
Refurbishment of the factory, which was initially expected to cost £4.5m in 2017, was finally completed in July 2023 with the budget having ballooned to £7.6m.
Taxpayers could be on the hook for a botched investment in the company’s shares, the letter revealed, despite TVR being deemed a high-risk business at the time.
The Welsh Government bought 3.3% of the sports car manufacturer in 2016 but the public’s stake in the company has since more than halved to 1.6%.
TVR received a multi-million investment as part of a joint venture with Ensorcia, a lithium-mining business, which diluted the Welsh Government’s shareholding in 2021.
In May, ministers received external advice about the TVR stake – including a lower valuation than paid in 2016 – and secured an option to sell the shares back to the company.
Officials are now preparing ministerial advice for a decision on whether to sell the shares at a loss or retain the investment in the hope the price increases.
Mr Crompton said TVR breached loan requirements in September 2016 because it had not secured a promised £5.5m private-sector investment to start production.
He added that TVR negotiated extensions to the Welsh Government’s loan default requirement, which otherwise would have led to early repayment in full
In April 2022, TVR paid the Welsh Government £4.3m, covering the £2m loan and accrued interest, which released the company from a requirement to base itself in Wales.
Mr Crompton wrote: “The Welsh Government had to extend the loan repayment period but still achieved a return on investment when TVR eventually repaid it….
“Full repayment has now removed the conditions that were originally attached to the loan.”
In his briefing, the auditor general said he reviewed Welsh Government support for TVR after receiving correspondence that expressed concerns about the risk to public funds.
Mr Crompton pointed out that the public purse will have incurred further costs in terms of officials’ time over many years, external advice and professional fees.
Ministers’ attempts to woo TVR coincided with the failed £425m Circuit of Wales project.
The proposals for a motor racing circuit in Blaenau Gwent collapsed in 2017, with Ken Skates, then-economy minister, refusing to underwrite a £210m loan.
In 2020, Mr Skates wrote off nearly £15m related to loans for the Circuit of Wales after failing to claw back taxpayers’ money.
Business
2025 Self-Employment Trends

Self-employment has grown in popularity in the last decade, especially after the effects of the COVID-19 pandemic. As an example, as of the first quarter of 2025, around 4.4 million people were self-employed in the UK, and whilst this is a slight dip compared to pandemic levels, where over five million people were self-employed, the numbers are starting to steadily increase.
So, let’s take a look at a few reasons why self-employment is on the rise again and some of the trends we are seeing in 2025.
Reasons For Growth
Flexibility
Being self-employed means more control over hours, clients, and workload. For many people, this has drastically improved their work-life balance and made it much easier for them to work around their personal commitments.
High Earning Potential
Although your earnings are typically less consistent and aren’t guaranteed, hourly rates for freelancers are often much higher than full-time positions, giving you the opportunity to earn significantly more money.
Better Job Satisfaction
Many people are turning their passions and hobbies into income streams. Whilst being self-employed is no easy feat, doing what you love every day and being your own boss can have a positive impact on job satisfaction and day-to-day happiness.
2025 Trends
Let’s dive into the trends of self-employment we are seeing in 2025.
Demographics
Male self-employment levels have seen a decline, again using the UK as an example, these have fallen from 3.3 million in 2020 to 2.7 million in 2022. But the (mean) age of people in self-employment has remained steady at around 47.5 years.
Industries
One of the biggest trends for self-employment in 2025 is within the creative industries. 28% of people in creative sectors are self-employed and content creation is one of the fastest growing areas of self-employment.
Social media, influencer marketing, and blogging are becoming some of the most sought after careers due to their creative freedom, flexibility, and high earning potential. Some are also choosing to partner with a specialist service, one option that’s proving more and more popular with many content creators is to work with OnlyFans management agency, to further propel their careers in this particular digital space and maximise their earning potential.
The Future of Self-Employment
Despite the challenges that come with self-employment, such as irregular income, lack of employee benefits, and potentially more difficulty qualifying for loans and mortgages, self-employment is still widely desired.
It’s likely that we will see an increase in self-employment in the near future, with social media and digital jobs offering better opportunities, more creative freedom, and improved work-life balance.
Business
UK workers’ rights bill ‘undermines devolution’

SENEDD Members criticised the UK employment rights bill for “undermining” devolution and the Welsh Parliament’s role, warning of “dangerous” constitutional implications for Wales.
Luke Fletcher backed the principles of the bill: “Day-one rights for workers, zero-hours contracts being revised, removing restrictions on unions [and] ending fire and rehire.”
But the Plaid Cymru politician expressed serious concerns about powers in the bill for UK ministers to override decisions made by the Welsh Government.
He told the Senedd: “We are seeing provisions that encroach on the ability of this [Welsh] Government and this place to legislate on behalf of the people of Wales.”
Mr Fletcher said: “In the same way the Welsh Government would’ve opposed such a power grab in the days of a Tory government, I would hope they would do exactly the same now.”

His colleague Mabon ap Gwynfor expressed grave concerns as Senedd Members debated a legislative consent motion (LCM), the mechanism used to signify consent for UK bills.
He warned: “The way that this [Welsh] Government has actually introduced this, and the way that the Westminster government has approached it, is dangerous. It undermines the Welsh Government – it undermines this parliament – and it undermines devolution.”
Mr ap Gwynfor criticised so-called Henry VIII powers for UK ministers to change or overturn a law passed by the Welsh Parliament. “To me, that is entirely unacceptable,” he said.
Under the bill, Welsh ministers would need to obtain the consent of the UK Government before using powers to create a fair pay body for social care.
“We can’t continue to legislate in this way,” Mr ap Gwynfor said. “With powers being taken away from our parliament and our democratic voice being undermined time and time again.”
Warning of no Welsh scrutiny of the bill, he added that Welsh ministers opposed the use of Henry VIII powers but failed to convince their Labour colleagues in Westminster.
Mike Hedges said the Senedd’s legislation committee felt it was unsatisfactory that regulations could be used to create a devolved body under the bill.

The Labour committee chair said the Welsh Government was not content, “exhausting all reasonable avenues to challenge it” but not pursuing an amendment in the House of Lords.
Peter Fox, who chairs the health committee, expressed similar concerns, saying: “The Welsh Government has a long-standing commitment to promote fair pay in the social care workforce, yet has not brought forward its own bill.
“The effect of this choice is to severely limit the opportunities for stakeholders in Wales to be involved in the legislative process and for the Senedd to examine the policy in detail.”
Warning of a £5bn cost to businesses, his Conservative colleague Altaf Hussain said his party would vote against providing consent to the employment rights bill.

He told the Senedd: “Although the intentions behind this legislation appear commendable, I am concerned about the significant burden it will impose on businesses across the UK.”
Labour’s Hannah Blythyn, a proud trade unionist, defended the bill, stressing: “Whether we like it or not, employment rights are reserved and not enforceable at a Wales-specific level.
“If workers in the social care sector in Wales are not in scope of a UK social care negotiation body, employers would only be expected to provide the statutory minimum with regards to pay, terms and conditions, potentially disadvantaging more than 85,000 workers in Wales.”

Ms Blythyn said: “To not pass this LCM does risk leaving workers in the care sector in Wales behind, many of whom are predominantly lower paid women workers.
“I think we need to see this as a way of progressing worker rights in a sector that radically needs reform, a sector that society depends upon and a workforce, at different times in life, to whom we entrust our nearest and most dearest.”
Jack Sargeant, who is minister for fair work in the Welsh Government, said the bill will be the single biggest upgrade to workers’ rights in a generation.
Mr Sargeant told Senedd Members: “It enhances employment rights, it strengthens enforcement and it removes unnecessary restrictions on trade unions.”

He agreed with Ms Blythyn, one of his predecessors as minister: “I do note some of the concerns from some members in the contributions today but we do believe it’s very much in the best interest of the social care sector and social care workers in Wales.”
He criticised Tory opposition. “That’s no surprise at all,” he said. “Their party, when they were in power in Westminster, consistently tried to undermine workers’ rights for 14 years.”
Senedd Members voted 27-13 in favour of the LCM on July 15, with Plaid Cymru abstaining.
Business
Fishguard Port upgrade scheme lodged with national park

THE EARLY early stages of a scheme for a new link bridge and floating pontoon for Fishguard’s ferry and associated works have been submitted to the national park, as part of multimillion-pound development which would provide better facilities for passengers and vehicles.
In an ‘observation’ application to Pembrokeshire Coast National Park, the unnamed applicant, believed to be Stena Line, seeks a long string of proposals.
The submission, not accompanied by any published supporting documents, includes the replacement of the existing linkspan bridge and jack up barge with new floating linkspan pontoon to serve Stena line ferry at Fishguard Harbour.
A linkspan is a type of drawbridge used mainly in the operation of moving vehicles on and off a roll-on/roll-off vessel or ferry.
It also includes capital dredging of 78,000m3, with disposal at licensed site in Milford Haven, along with a piled reinforced concrete bankseat; tubular steel guide pile; reclamation to facilitate extension to the road and pedestrian network.
It also includes the demolition of structures, including a disused RNLI slipway; rock armour revetment with toe detail to tie into scour protection; storm sewer extension; and ancillary and temporary works.
The published observation scheme has been marked as a response.
Stena Line is currently in the process of applying to Natural Resources Wales (NRW) for a marine licence application for the replacement linkspan at Fishguard Port, via its agents RPS Consulting UK & Ireland.
The submitted documents state that Stena Line proposes to replace the existing temporary arrangement of a linkspan and jack-up barge within Fishguard Harbour.
The minutes from a recent meeting of Fishguard and Goodwick Town Council suggest that this development will cost in the region of £15.5 million.
“The proposed development, providing a replacement pontoon, will allow safe berthing of the ferry, and provide an improved facility for passenger and vehicular access to vessels within the port,” state documents provided to NRW.
The planning boundary of the proposed development is encompassed by Fishguard Harbour, within Fishguard Bay.
Stena Line Ltd owns a floating pontoon, which they want to relocate to Fishguard.
Because the proposed development is within the boundaries of the West Wales Marine SAC and in proximity to other marine SACs, Stena has had to submit environmental statements to NRW. The most recent was submitted at the beginning of last month.
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