"Drift of jobs must be reversed", Welsh Government told

Action must be taken to reverse a “worrying trend” of high value jobs moving out of Wales’ capital –Welsh Government Ministers have been urged.

 

Speaking in the Senedd – Leader of the Welsh Conservatives and South Wales Central AM Andrew RT Davies expressed “deep concern” that at least 1,500 financial services jobs had been relocated from Cardiff to other regional centres across the UK.

 

He said there was a drift – particularly at senior level – of personnel being moved to other cities like Birmingham and Bristol.

 

He pointed to Barclays’ decision to move 200 jobs from their Pentwyn base to Northamptonshire as the latest example.

 

Mr Davies called on Cabinet Secretary for Economy and Transport Ken Skates to take action to make the city a more attractive proposition to the sector – and claimed something was clearly wrong to prevent so many positions being retained in Wales.  

 

Mr Davies said, “Barclays’ announcement this week is the latest of example of financial services jobs – particularly senior roles – being moved out of Cardiff in recent times.

 

“We have seen at least 1,500 positions linked to the sector leave the area – with a drift to other regional centres becoming obvious.

 

“This inevitably leads to serious questions – namely what are we doing wrong here in Wales to prevent us retaining these jobs?

 

“By moving to Northamptonshire – Barclays have taken a decision to move to an area where they will have to pay a premium – and this is deeply worrying.

 

“The Welsh Government must take action to make Wales a more attractive proposition to the financial services sector and reverse this trend before further losses are suffered.”

 

ENDS