Wales’ Economic Summit : 16th October

16 Oct 2008

"Today’s globalised economy means that no country is immune from the storm blowing through the banking system and financial markets." 

WAG has announced today that in response to the fact that "Wales faces a set of challenging economic and financial circumstances unprecedented in most of our lifetimes which require us all to put our thinking caps on to see how we can respond",   an all-Wales Economic Summit will confront the full impact of the unfolding financial crisis. 

The Summit will see Ministers exchanging ideas on the best way forward for Wales with top managers of some of Wales’ biggest companies and trade union leaders.  It will bring together representatives of all the key economic sectors in Wales – including banking and insurance, mortgage lending, housebuilding, construction and retail currently in the eye of the storm, as well as the manufacturing and farming sectors that have experienced huge increases in energy and other costs.

 WAG has indicated that overcoming the twin challenge posed by the credit crunch and high fuel and food prices is going to involve much closer communication and co-operation between government, business and households.