Thirteen years of Tory austerity at Westminster have made the UK one of the most regionally unequal economies of the western world.

This has been made worse by the vandalism of our economy with the KamiKwasi Budget and Tory mortgage bombshell.

The Chancellor Jeremy Hunt recently said a recession would be a “price worth paying” to bring down inflation. This is astonishing knowing the impact it will have on hard working families in Newport East.

In the last month, I have visited the Llanwern Steelworks (pictured) and Nexperia along with my Labour colleagues to meet with staff representatives.

We had a wide-ranging discussion on issues, affecting both businesses and discussed the lack of investment and strategy from the Conservative government. This hasn’t gone unnoticed by the workforces at both.

We need to ensure we are not being left behind in the race for jobs of the future.

The Labour Party under Keir Starmer is clear: “Steel is integral to a modern economy, and my Labour government will back it, secure it, and grow it, creating high paying, productive jobs in communities all over the country, for generations.”

We must go further on semiconductors which are critical components for technology of the future – locally, nationally and internationally. The US and EU are investing £42 billion and £37 billion respectively on subsidies for semiconductors. Why is the UK announcing only £1 billion over the next ten years?

When Keir Starmer’s government takes office, it must reverse the years of austerity and rebalance the UK economy, including here in south east Wales.

This will mean Welsh Labour Ministers working in partnership with UK Labour Ministers, by heavily investing in our strategic sectors such as semi-conductor technology, cyber security, and steel – all of which are significant to Newport, because of the jobs and opportunities it can create directly and to the wider supply chain.

During the American Presidential race in 1992, the slogan of the successful Democratic Party nominee Bill Clinton was “it’s the economy stupid” – he was right.

After years of Tory economic mismanagement, our key industries have been hollowed out. It must be Labour’s mission at the both ends of the M4 to get our economy back on track.

If we do, everyone in Newport, across Wales and the rest of the UK will have the opportunity to prosper!

Want to contact John Griffiths? Either e-mail john.griffiths@senedd.wales or call 01633 222302.