Issue - meetings

Sub-Committee Update - Economic Wellbeing and Economic Development

 

 

Meeting: 11/03/2025 - South West Wales Corporate Joint Committee - Overview and Scrutiny Sub-Committee (Item 4)

4 Sub-Committee Update - Economic Wellbeing and Economic Development (to follow) pdf icon PDF 511 KB

Decision:

Following scrutiny, the report was noted.

Minutes:

Members considered the report which was circulated as a supplement to the agenda.

 

Officers outlined that the report aims to outline the responsibility of local government in developing regional investment plans for SPF and sets out that the basis of the programme incorporates the anchor projects, grant scheme and stand-alone projects.

 

Members were advised that 2025/2026 is a transition year and discussions will continue between the UK and Welsh Government on the funding beyond March 2026.

 

The report highlights significant progress in regional performance outputs, including job creation, safeguarded jobs and grants awarded to organisations and enterprises.

 

Members raised concerns with regards to the SPF funding. It was noted that it has been reduced significantly and that this will impact a number of organisations within the locality, who have previously accessed the funding.

 

Following scrutiny, the report was noted.