Devastating Bosch factory closure reveals need for new Welsh Government approach.

January 15, 2010 1:15 PM

Commenting on German manufacturer Bosch's decision to close their Miskin factory, resulting in 900 job losses, Welsh Liberal Democrat Shadow Economy and Transport Minister, Jenny Randerson said: "This news is devastating, a hammer blow for the Welsh economy. My thoughts are with those who have lost jobs and may well struggle to secure similar employment in the region."

What matters now is the response of the Welsh Government. Bosch's decision to move elsewhere confirms the importance of establishing a diverse economy, focusing on home-made products, intellectual property creation and services."

Welsh Liberal Democrats want to improve Wales' offer to business. We have proposed a £3.5bn 2010 economic stimulus package, aimed at radically improving energy and transport infrastructure. Welsh Liberal Democrats have also called on the Welsh Government to reverse its 5% cuts to further and higher education.

Now is the time to invest in our skills base and enhance the links between our centres of learning and Wales' entrepreneurial talent. "Eluned Parrott, chair of Vale of Glamorgan Liberal Democrats local party, added: "We keep on pinning our hopes to a single investor - it really is the wrong approach in a global economy where the UK is often too expensive. We have to offer the world something different based on what makes us special - and that means investing in smaller, cutting-edge enterprises.

Sustainable economic development tends to grow from small seeds. It may not make the headlines in the same way as a big inward investment, but we ought to be helping our own small and medium-sized enterprises to grow by cutting red tape and helping them tap into the knowledge held in our universities."

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