Comment from South Wales Chamber in reaction to spending review

David Russ, managing director of South Wales Chamber of Commerce, said:

“Although we didn’t learn a great deal from today’s spending review, we can hope that the Chancellor’s announced investment in road and rail will ultimately see him give the go ahead for an M4 relief road, as well as leading to improved transport infrastructure throughout the south Wales Valleys.

“We also welcome any measures that will enable more businesses to export their goods and services to overseas markets, and we need to see these implemented as soon as possible to reverse what has become a declining trend.

“It was interesting to hear of further investment in a nuclear energy programme and hopefully any such investment would be used in part to develop a further nuclear plant in north Wales and bring employment, training and further investment for Wales.

“On the whole, today’s spending review was a missed opportunity to stimulate real growth in the economy. We heard nothing that would help the manufacturing industry, and nothing to encourage the new wave of entrepreneurship that the country really needs.”