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WALES INWARD INVESTMENT FAILS TO CLOSE PROSPERITY GAP

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An economic strategy paper published by the Welsh Office will admit that big inward investment projects in Wales ha...
An economic strategy paper published by the Welsh Office will admit that big inward investment projects in Wales have failed, the Financial Times (p8) reports.

The report, An Economic Strategy for Wales, showed that despite£11bn inward investment since 1983, there is still a substantial prosperity gap between England and Scotland and most of the rest of Europe.

The Welsh Development Agency has secured 1,600 projects, creating or safeguarding 160,000 jobs, but Welsh gross domestic product is 83% of the UK avarage, lower than its 1979 level.

The Welsh Office stresses that the strategy is not a return to the 'disasterous' economic planning policies of the 1970's.
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