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Most recent figures show that, on average, Wales produces less than 80 per cent as much wealth per head as the UK in general. This gap is widening. In many parts of Wales the figure is closer to 70 per cent of the UK norm. That's why many areas have been earmarked to receive Convergence Fund support - the highest level of support available from the European Union. Much of the disparity arises from the historic profile of industry in Wales. Traditionally primary industries made up a higher proportion of the economy and many lower value added activities have tended to be located in Wales. To close the gap Wales needs to achieve higher economic growth year on year than the UK. This requires higher value added enterprises and the cultivation of more sophisticated and effective management. The Wales Management Council will be at the forefront of the drive to establish the calibre of management needed to achieve this higher performing economy.
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