Regional economy in Wales

Charles III Heir Apparent William, Prince of Wales First Minister (list) Rt Hon Eluned Morgan MS (L) Deputy First Minister Huw Irranca-Davies MS (L) Counsel General-designate – Elisabeth Jones Chief Whip and Trefnydd – Jane Hutt MS (L) Permanent Secretary Sixth Senedd Llywydd (Presiding Officer) Elin Jones MS (PC) Leader of the Opposition Darren Millar MS (C) Shadow Cabinet Prime Minister Rt Hon Keir Starmer MP (L) Secretary of State for Wales Rt Hon Jo Stevens MP (L) Principal councils (leader list) Corporate Joint Committees Local twinning see also: Regional terms and Regional economy United Kingdom Parliament elections European Parliament elections (1979–2020) Local elections Police and crime commissioner elections Referendums Regional economy in Wales is centred on four regional economic boards in Wales.

UK Government budgets in spring 2015[4] and in 2016[5] announced the opening of negotiations with the Welsh Government and local partners for the Cardiff Capital Region and Swansea Bay city deals respectively, following the success of the initiative in England's urban centres.

[1][7][8] The North Wales Economic Ambition Board published the "Growth Vision for the Economy of North Wales" in September 2016, setting out the regional plan for improving infrastructure, skills, employment, business growth and innovation.

[10] Such transfer of decision-making, may be interpreted as the devolution of some financial powers to the regional bodies from the Welsh Government.

Earlier funding would save local authorities in repayment costs and allow invested projects in the deals to progress at a quicker pace.

[10] Their report provided eleven recommendations for the management and structure of the regional economy in Wales.

This includes making economic decisions over where public funding should be allocated, the most-effective way to support local growth of businesses and generally how to grow its economy.

[10] Covering ten local authorities in the south-east of Wales and centred on Cardiff, the Capital City of Wales, the Cardiff Capital Region City Deal was agreed between the local authorities, UK Government and Welsh Government on 15 March 2016.

[10][20][21] Covering the local authorities of Carmarthenshire, Neath Port Talbot, Pembrokeshire and City and County of Swansea, with the deal centred on the latter, the Swansea Bay City Deal was agreed between the local authorities, UK Government and Welsh Government on 20 March 2017.

[12] The deal is led by the North Wales Economic Ambition Board, with representatives from the six principal councils of North Wales, Bangor University, Wrexham Glyndŵr University, Grŵp Llandrillo Menai, Coleg Cambria, and various private sector representatives.

[23][12] Covering the local authorities of Ceredigion and Powys, the Mid Wales Growth Deal was signed on 13 January 2022.

The deal covers largely rural and sparsely populated mountainous landscapes of central Wales, with Aberystwyth, Newtown and Welshpool being the economic region's primary centres.