Mark Drakeford, the First Minister of Wales, has declared his resignation after a five-year tenure. He will step down from his position in March, and a new leader from the Welsh Labour party will be chosen prior to Easter.

Mr. Drakeford stated his intention to have a new leader in place before the upcoming Westminster general election but refuted any connection between his decision and the public response to the recently implemented 20mph speed limits across the country.

At the age of 69, Mr. Drakeford, who also serves as the Member of the Senedd (MS) for Cardiff West, assumed the role of first minister exactly five years and one day ago. Although he had originally planned to step down in 2024, the timing of his resignation announcement came as a surprise.

This announcement precedes the Welsh government's forthcoming release of its spending plans for the next year, a task that ministers have cautioned will be particularly challenging.

Responding to the news that Mark Drakeford, First Minister of Wales is stepping down, Ben Francis, Wales Policy Chair for the Federation of Small Businesses said,

“On behalf of FSB and the members we represent across the country, I would like to thank the First Minister for his service to the people of Wales during his time in office.

Overseeing the administration and steering Wales throughout the pandemic, and beyond, has undoubtedly been a challenging feat and as he addressed in his statement, Wales continues to face very challenging times and decisions. However, we welcome that the First Minister has, over the years, sought an active relationship with FSB and other partners and we look forward to engaging with him until the end of his tenure.

While undoubtedly there will be speculation about who will take over as Wales’ new First Minister, given an uncertain economic horizon, it is crucial that whoever seeks to lead the next administration in Wales focuses on using devolved levers to help stabilise our economy and recognises that recovery will be driven by the talent, determination and ambition of our smaller businesses.”

Ian Price, CBI Wales Director, said: 

“The First Minister’s record as the longest serving cabinet minister in Wales is testament to his outstanding public service.

“His leadership saved lives and livelihoods as he worked to support communities and businesses during the COVID-19 pandemic.

“We look forward to his successor working to boost economic growth, productivity and improve skills as Wales seeks to build a sustainable economy.

“We wish Mark Drakeford well for the future.”

Richard Selby, co-founder and director, Pro Steel Engineering and National Chair Institute of Directors Wales commented:

“While the nature of the announcement didn’t come as a complete surprise, the timing of it did.  It’s important that the new First Minister embraces economic prosperity and we look forward to working with the new First Minister for the benefit of directors and business leaders in Wales.”

Paul Butterworth, CEO at Chambers Wales South East, South West and Mid, said:

“Chambers Wales South East, South West and Mid would like to thank the First Minister, Mark Drakeford, for his years of public service to Wales, leading the country during a time of tough economic circumstances and a global pandemic with dignity, a time that severely tested businesses and society at large.

“As we look forward to 2024, we hope the next First Minister of Wales will set the agenda on a long-term economic plan for Wales’ prosperity, underpinning the potential green economy with skills development in and for Wales, alongside a vision to grow ‘brand Wales’ internationally.”