Page last updated at 17:53 GMT, Tuesday, 6 January 2009

Osborne's plan for Welsh economy


Shadow Chancellor George Osborne said people wanted a new approach

Shadow Chancellor George Osborne has visited Newport and Cardiff to outline Tory plans for economic recovery.

At Newport, he discussed regeneration plans for the docks and in Cardiff he held a meeting of the Conservatives' Get Britain Working forum at City Hall.

The forum included representatives of business and the voluntary sector as well as local party members.

Mr Osborne said the Welsh economy would be "very exposed" and people were looking for a "new approach".

He said: "Getting credit flowing again and help businesses to take on unemployed people is the right approach.

"Keeping people in work with a cut in National Insurance, and helping pensioners and savers with the tax cuts on savings. These are the right things for the country, and will keep Wales working.

"People are concerned about the deepening recession and rising job losses. But they don't think that government schemes such as the temporary VAT cut are working.

"Businesses and employees are looking for a new approach."

'Stimulate debate'

Mr Osborne said ensuing the banks resume lending would be one way of keeping companies afloat.

One of those who took part in the question-and-answer session was Robin Morris, from the Church in Wales, who is also chair of the Institute of Directors in South Wales.

He said: "It's important during a global recession that here in Wales we get a variety of approaches to stimulate a debate."

"It was a very helpful balance between UK-wide future thinking from George Osborne, and from Alun Cairns [AM for South Wales West], helpful comments about the needs of local unemployed people."

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