While Brexit-related uncertainty pervaded Estates Gazette’s Cardiff Question Time on Thursday, one thing was clear: Wales must “keep calm and carry on”.
Delegates agreed that though the result of the EU referendum was unexpected, focusing on inward investment was key to keeping Wales competitive in the global market.
Michael Plaut, chairman of CBI Wales, said the country should see the current political situation as an opportunity.
He said: “We should be able to respond very quickly to change, because there are only 3m of us. We were the first industrialised nation in the world. Out of the rejection of the EU will have to come a new approach.
“We need to focus on a future of hope, rather than one of decline and we can see the rebirth of Wales if we do things differently. We have to stop focusing on funding and get on with wealth creation.”
Jo Hunt, senior fellow, The UK in a Changing Europe, Cardiff University School of Law and Politics, agreed. She said: “I think there is amazing talent and ability within Wales and it is important to see the potential is there. It’s about realising and harnessing that.”
David Roberts, consultant at Hugh James, sounded a note of caution. He said while devolution had helped Wales with its identity, more cohesion was needed between the local authorities if the country was to achieve its goals.
“The Welsh government is too overzealous in terms of regulation,” he said.
Panellists agreed that streamlining the Welsh planning system and more work on infrastructural projects, not just in Cardiff but in the wider regions, was also needed to promote business in the country.
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