The Outlook for the Welsh Economy

With rising wages helping to improve consumer confidence, will 2024 be a better year for the UK economy? As we enter an election year for the Westminster government, this event aims to highlight some of the main challenges - at both a national and regional level - which an incoming administration may face.

Domestically, with the UK performing poorly against other G7 countries, there looks to be little prospect of significant economic growth. This poor productivity growth is compounded by a fall in labour supply, with the number of people employed in the UK remaining below its pre-pandemic level. But is this picture consistent across Wales, the other devolved nations and regions of England? And are key government policies – such as Levelling Up – helping to address these persistent inequalities? For households, has the change in National Insurance contributions improved living standards across the income levels? And, with ongoing geopolitical uncertainty in the Middle-East, how might these pressures exert themselves on the consumers within the UK regions and devolved nations?

Ahead of the Chancellor’s Spring Budget, our expert commentators present a detailed picture of the UK economy, with a particular focus on UK labour markets and the Welsh economy; offering their insights into the challenges ahead whilst discussing some of the policy choices that are available to drive growth and improve living standards. There was an opportunity to ask questions and discuss particular issues that interest the audience, either in person or online.