Office space call for financial services firms

Financial firms have been attracted by new premises in the centre of Cardiff

A lack of office space outside Cardiff could be stopping many areas benefitting from new financial services jobs, a business expert has said.

Chris Nott said the Welsh government may need to buy land and property to overcome the problem.

Ministers have been criticised by Welsh Tories for spending public money on projects in the centre of Cardiff.

Mr Nott said the criticism was unfair, claiming the intervention helped get developments moving.

He told the BBC's Sunday Politics Wales programme that ministers should monitor the situation and take action if the private sector was not willing to build more outside of the capital.

Denise Lovering, chair of the Caerphilly Business Forum, said her area had missed out on investment because of a lack of suitable property.

The Welsh government said it was "considering a range of potential interventions to further stimulate the market, including support for office developments".

Sunday Politics is on BBC One Wales at 11:00 GMT on Sunday, 15 February.