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The decisions as the council's minutes record them. A plain-language summary follows once it has been written.
RESOLVED: That the Regional Economic Delivery Plan Mid Term Review be approved.
RESOLVED: That the report be noted.
RESOLVED: That the report be noted.
The Chairperson welcomed everyone to the meeting.
There were no declarations of interests received.
The minutes of the meeting, held on 10 July 2025, were approved as a true and accurate record.
Decision as recorded
RESOLVED: That the Regional Economic Delivery Plan Mid Term Review be approved.
The Committee were presented with the findings of the mid-term review of the South West Wales Regional Economic Delivery Plan (REDP), which included a presentation from SQW summarising the key points. It was explained that SQW had been working with colleagues across the region over the past few months to prepare a review of the REDP; a document that was originally produced in 2021 and adopted by the South West Wales Corporate Joint Committee (SWWCJC) in 2022. It was stated that since the adoption of the REDP, there had been some changes in the economic and policy context; therefore, Officers felt it was appropriate to review the ambitions and missions that were originally set out and consider whether there was a need to update any of the priorities. It was highlighted that the brief given to SQW was to build on what had already been produced, give an assessment of progress and look forward in order to determine if anything needed to be changed; the REDP was a ten-year plan, therefore it was important to ensure that the broad ambitions that were set out at the time, were still the right ones going forward. Officers added that this update will provide a useful framework to engage with UK and Welsh Governments, as it can be used as background material in developing funding proposals. The mid-term review referenced some of the policy changes that had taken place since the REDP was approved; specifically, Officers highlighted the industrial strategy which was an important basis for future government funding. When undertaking the review, Officers stated that they had considered the current economy and the eight priority industrial strategy sectors that UK Government had set out; in some cases, there were some specific regional strengths especially in respects of clean energy, creative industries and advanced manufacturing. It was noted that there were other areas where there was sufficient overlap either within the business base or some of the academic capabilities of Swansea University, for example. In broad terms, it was stated that some of these align with the economic strengths and opportunities set out within the REDP, especially around energy infrastructure and low carbon potential; however, Officers had continued to emphasise the importance of other sectors that were important to the region, that were outside of the eight priority industrial strategy sectors, such as agriculture, tourism and the visitor economy. Officers confirmed that they had reviewed the regional economic progress; a lot of economic indicators change relatively slowly meaning that there was still a significant productivity gap between the region and the rest of the UK. However, it was highlighted that one of the most notable changes to the economy, since the REDP was produced in 2021, was the return to jobs growth; this growth has returned after a period of uncertainty in employment terms due to the impacts of the Covid-19 pandemic. It was mentioned that if the economic activity rates increased up to the UK level, that would bring around 21,000 people into the workforce, which was quite significant. Members were also informed of some of the significant challenges in bringing forward major sites, which had additional salience as of recent due to the context of the TATA Steel transition at Port Talbot, and also the Celtic Freeport; this links to some of the opportunities and challenges associated with industrial decarbonisation and the like. Reference was made to the refreshed strategic framework which was originally made up of three ambitions ‘resilient and sustainable, enterprising and ambitious, and balanced and inclusive’ and three missions (set out below); all ambitions and missions had remained the same. Officers explained that they had adapted the strategic framework slightly by incorporating three underpinning factors: employment and skills, sustainable connectivity and sites and premises. Members were provided with an overview of the region’s progress in terms of delivering those missions: Mission 1 – A UK leader in renewable energy and the net zero economy · The launch of the Celtic Freeport as a new driver for the region’s renewable energy · Work underway in respect of some of the other key renewable energy schemes and in the wider infrastructure for industrial decarbonisation Mission 2 – Building a strong, resilient and embedded business base · Delivery of major developments including Swansea Bay Technology Centre, Pentre Awel, Kingsway and Matrix · Significant progress associated with the UK Shared Prosperity Fund in terms of developing a business support offer · Progress in developing new commercial space, although there was emphasis on the viability gaps that still remain and the need for substantial grant funding to support that Mission 3 – Growing and sustaining the South West Wales experience offer · Delivery of key assets including Swansea Building Society Arena and the visitor attractor in Pendine and more underway, including the Vale of Neath · Secured funding through the Levelling Up Fund to deliver significant tourism and heritage related projects A further discussion took place in regard to the three underpinning fundamentals, as previously mentioned above. It was stated that these three missions were important to highlight especially if the document was going to be used as a basis for securing funding. The following points were highlighted in terms of why the underpinning factors had been included in the revised plan and their significance: - Employment and skills – included in the context of technology change and a stronger emphasis on the employment and economic activity gap. - Sustainable connectivity – included to reflect the progress of transport initiatives, especially in terms of the rail infrastructure and the development opportunities that the improved rail infrastructure could bring forward, particularly in urban areas. - Sites and premises – included to highlight the link with on-site constraints and the wider nationally significant pressures on grid infrastructure. Following on from the above, Officers referred to the routes for investment and delivery. It was noted that the REDP was a high-level strategy, therefore it did not go into detail regarding the progress of projects; however, it did include reference to the need to make the case for greater flexibility in terms of investment funding for specific areas, such as sits and premises. Reference was made to the monitoring framework, which formed part of the revised REDP; to which Officers explained that the intention for this was to link some of the different mechanisms of monitoring, across the region, to provide further consistency. It was noted that a project pipeline was developed as part of the original REDP; most of which had now been delivered. Members were informed that Officers would be producing a revised project pipeline, which will be consistent with the mid-term review. Members referred to the underpinning fundamentals that were mentioned during the presentation and highlighted the importance of connectivity; specially the need for digital connectivity, as well as bus infrastructure to ensure that communities are connected. Concerns were raised in regard to the uncertainty, and lack of clarity, on the funding to deliver the region’s missions and achieve the ambitions set out in the REDP. Officers mentioned that UK and Welsh Governments were beginning to unveil their plans for post March 2026; reference was made to an upcoming Pan-Wales Welsh Local Government Association (WLGA) meeting for regeneration officers, in which both UK and Welsh Governments would be present to provide an update on future funding following the conclusion of the Shared Prosperity Fund (SPF) in March 2026. In addition, it was stated that Welsh Government were going to be undertaking a series of regional consultation events in October to feed into the process; it was Officers understanding that the four Local Authority Leaders were meeting with the Welsh Government in due course as part of that consultation. Officers highlighted that part of the purpose of producing this plan was to assist in being prepared and responding quickly when opportunities emerged as often the timescales were very limited when new initiatives and funding streams were launched. A further discussion took place in regard to the return to jobs growth and the challenges surrounding the labour market, which was noted to be an issue across the whole of Wales; reference was made to the increasing graduate gap and the implications that might have, and the need to break the total jobs down to identify the specific needs. Colleagues from SQW confirmed that they would be able to share data pertaining to this if Members would find this useful; they recognised the importance of considering the implications at the various different levels. RESOLVED: That the Regional Economic Delivery Plan Mid Term Review be approved.
Decision as recorded
RESOLVED: That the report be noted.
Members were provided with the Annual Return for year ended 2024/25. It was explained that last week, the Corporate Joint Committee’s (CJCs) Governance and Audit Committee had approved the Annual Return; in addition, the accounts had been completed and signed by internal audit and the Auditor General. Officers explained that the Statement of Accounts was in the form of an Annual Return, as the South West Wales Corporate Joint Committee (SWWCJC) had a turnover of less than £2.5million; therefore, there was no requirement to carry out a full statement of accounts. Reference was made to the Outturn which was detailed within Appendix A of the circulated report. Members were reminded that the budget was originally set at £615k; this was uplifted during the year by an additional transport fund grant which was received from Welsh Government. It was noted that the levy set was similar to the previous year, with a 10% reduction through the utilisation of reserves. Following on from the above, Officers stated that there was a slight underspend of £44k in relation to the Joint Committee function; however, there was significant underspend within the Sub Committee function. It was stated that this was likely to change throughout the current financial year, as there was a greater need for utilisation of money in order to progress work for the various workstream; this had already been recognised when setting the budget for the current year, hence why some of the reserves were utilised and a policy was put in place to reduce the reserves over the next three years. It was added that some of the workstreams had been awaiting clarification regarding the finances that Welsh Government will be providing going forward to assist with workstream delivery. The SWWCJC expenditure for 2024/25 was noted to be £378k and by the end of the financial year the underspend was at £332k; the underspend was transferred into the SWWCJC’s reserves, as previously planned when discussions had taken place in regard to the current financial year’s budget. Officers highlighted that it was agreed to use approximately 50% of the reserves over a three-year period in order to advance the work of the SWWCJC. Officers referred to Appendix B of the circulated report, which detailed the actual Annual Return, as well as comments from the internal auditor and the Auditor General. It was confirmed that since publication of this agenda, the documents had officially been signed by the appropriate individuals. RESOLVED: That the report be noted.
Decision as recorded
RESOLVED: That the report be noted.
Officers presented the Committee with the Quarter 1 Financial Monitoring for year ended 2025/26. It was noted that on 21 January 2025, the South West Wales Corporate Joint Committee (SWWCJC) approved the 2025/26 budget which was set at £710k, with a levy from the constituent authorities; it was agreed to reduced the levy, by utilising reserves, which meant that £556k was raised through the levy. Members were informed that at the same meeting, it was agreed that the SWWCJC reserves would be used to maintain the level of the levy for the current financial year, and the following two financial years. Officers highlighted that the quarter one outturn was currently projecting a total underspend of £345k, with this balance then being transferred to the SWWCJC reserves at year end. In terms of the variances, which were detailed in Appendix A of the circulated report, it was noted that Support Services were projecting an underspend of almost £50k due to the Senior Accountant post still remaining vacant; given the current workload of the SWWCJC, this post was not required as of yet. Following on from the above, Officers stated that the level of the Sub Committee activities had increased in the current financial year, and were forecasting an overspend of £117k; this was in part due to the £200k Welsh Government grant expansion for the Regional Transport Plan (RTP). In regard to the Planning and Management function, Officers mentioned that they were expecting costs of £35k for the Planning Officer to develop the Strategic Development Plan (SDP) resulting in an underspend of £74k. It was highlighted that another piece of work being carried out was the procurement of a Regional Investment Strategy which was estimated to cost £75k; £40k of which will be funded through the Economic Wellbeing and Regional Economic Development Sub Committee budget, with the remaining £35k being vired from the consultancy and specialist advisor budget within the Regional Management Office. A discussion took place in regard to the Regional Management Office function of the financial monitoring, which was predicting an overspend of almost £37k; this was in part due to the upcoming appointment of the Chief Operating Officer, who will start in January 2026. It was added that this was estimated to cost around £35k until the end of the financial year. Officers were also expecting an additional cost of £30k for the UK Real Estate Investment and Infrastructure Forum (REIIF) event, and as previously mentioned £35k would be allocated to the Economic Wellbeing and Regional Economic Development Sub Committee. In terms of income, it was reiterated that an additional £200k was provided from Welsh Government in order to support the completion of the Regional Transport Plan (RTP); Officers were also expecting an additional £200k to support the development of capacity and governance arrangements within the SWWCJC. Members were informed that Officers were estimating that £500k worth of interest would be earned in the year from the reserves. In conclusion, Officers highlighted that incorporating the balance brought forward from the previous year which was noted to be £1.17million, and factoring in the underspend for this year, provided a total of approximately £1.3million year end. The Section 151 Officer expressed that the appointment of a Chief Operating Officer will make a significant difference to the budget going forward due to salary from next year on. In addition, Members were informed that when setting the budget, Officers were not aware of some of the additional grants that have since come forward from Welsh Government; moving into next year, Officers will need to rebalance the budget due to this. It was clarified that Officers had received documented correspondence from Welsh Government, confirming that they will be providing £200k to support the work relating to the RTP. Officers referred to the follow up discussions that would take place on this, via the Pan-Wales Corporate Joint Committee Group. Officers expressed the need to have further discussions with Welsh Government regarding the longevity of some of the grants provided in order to assist with effectively building the base budget for future financial years. RESOLVED: That the report be noted.
There were no urgent items received.
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