Plans for a scheme aimed at boosting Swansea and the surrounding areas will come under scrutiny by the Welsh Secretary and a former leading cabinet minister.
Alun Cairns and Lord Heseltine along with business and local authority leaders will go over the business case for what's known as the Swansea Bay City Region Deal.
Michael Heseltine, who was a cabinet minster in the governments of Margaret Thatcher and John Major, was born in Swansea.
With discussions at an advanced stage, today’s challenge session is about putting the business case for the City Deal under the microscope so we are absolutely clear about expectations.
It is hugely helpful to have an expert in regeneration projects like Lord Heseltine to help with the task. He has years of experience in overseeing projects that really breathe new life into communities, and he is well practiced in seeing the vision turn into reality on the ground.
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Tata steelworkers have voted to accept reforms to their pensions, unions announced.
The consultative ballots on Tata Steel's proposal on pensions, jobs, investment and production closed at noon today.
All union members were asked if they accepted the proposal, and the results for each union are as follows:
- Turnout: 70.5%
- Yes: 72.1%
- No: 27.9%
- Turnout: 69.2%
- Yes: 75.6%
- No: 24.3%
- Turnout: 51.5%
- Yes: 74.0%
- No: 26.0%
"We now expect Tata to make good on their promises and deliver the investment plan for the whole of their steel business" Community Union
Leaders of the three unions recommended acceptance of the changes as the best that could be achieved through negotiation.
The changes include the introduction of a defined contribution (DC) pension scheme, with maximum employer contributions of 10%, following the closure of the British Steel Pension Scheme (BSPS) to future accrual.
Tata Steel workers are today expected to give their verdict on a new pension offer.
A ballot began two weeks ago. A deal could mean reduced pension benefits for staff in exchange for job security.
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The Welsh Government is providing £1 million of funds to establish a business hub to support the creation of 100 new enterprises and 260 jobs.
A two-year pilot scheme in Wrexham, north Wales aims to secure a similar amount of private investment.
Innovation and entrepreneurship are vital drivers for the economy and I want to continue to create the best environment for entrepreneurs across Wales and will be using the pilot to inform my future economic priorities.
The importance of providing space, community and support for aspiring entrepreneurs is key to success and I am keen to build on and complement the existing infrastructure across Wales.
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