Mr. Gareth ThomasTo ask the Secretary of State for Wales when he proposes to notify the economic development non-departmental public bodies in Wales of his strategic guidance and targets for 1998–99; and if he will make a statement. [43545]
§ Mr. Ron DaviesI have today written to the chairmen of the Welsh Development Agency (WDA), the Development Board for Rural Wales (DBRW), Cardiff Bay Development Corporation (CBDC), the Land Authority for Wales (LAW) and the Wales Tourist Board (WTB), to inform them of my strategic targets and priorities for 1998–99. Copies of the letters have been placed in the Library of the House.
With the forthcoming establishment of the economic powerhouse, I will need to reconsider the priorities and targets for the enlarged agency later in the year. I have therefore set targets for the WDA, DBRW and LAW for only the first six months of the current financial year. However, the targets I have set are demanding and include private sector investment of over £400 million and the creation or safeguarding of over 8,000 jobs.