Making the Most of it: Objective 1 Status, Assisted Area Status and the Valleys

David Brooksbank and David Pickernell

Chapter 8 in Wales in the 21st Century, 2000, pp 101-114 from Palgrave Macmillan

Abstract: Abstract The UK was among the first European countries to adopt an official regional policy as a means of reducing disparities in unemployment rates, with the 1934 Special Areas Act. Sixty years later regional policy is still in place to address issues of uneven regional incomes and growth. Wales has, for many years, had access to UK government schemes such as Regional Development Grants (RDGs) and Regional Selective Assistance (RSA), as well as EU funds. Partly as a result of these initiatives the Welsh economy has undergone a transformation from heavy dependence on the traditional industries of mining and steel to a more diverse economy. Policy initiatives undertaken by the Welsh Office, the Welsh Development Agency, local authorities and EU bodies have also helped Wales to become one of the most successful UK regions at attracting inward investment. They have not, however, arrested its decline in terms of relative GDP per head which declined from 87 per cent of the UK average in 1976 to 83 per cent in 1997, which is the lowest in Great Britain and only marginally above Northern Ireland (ONS, Regional Trends, various years).

Keywords: Supply Chain; Structural Fund; Policy Priority; Valley Area; European Social Fund (search for similar items in EconPapers)
Date: 2000
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-333-98153-5_8

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DOI: 10.1057/9780333981535_8

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