MAKE WALES PROSPER

“Poverty is not inevitable – it is a lack of political decision” – Helen Mary Jones MS

 

Plaid Cymru has outlined its plans for a bold new freestanding agency – Prosperity Wales – which will be tasked with developing Wales’ economy.  

 

Speaking ahead of the party’s Spring Conference, Shadow Economy Minister Helen Mary Jones MS said that a Plaid Cymru government would have a clear economic policy to “create and share wealth” and to “build our national prosperity” to enable the “world-class public services that we all deserve.”

 

Prosperity Wales will be characterised by:

·      Spatial approach: Focussing attention where it is needed most

·    Rebalancing: Addressing historical patterns of discrimination that have led to chronic injustice and inequality

·      Growth: Nurturing local businesses, enabling export and improving productivity

·      Research & Development: Enabling existing businesses to innovate, decarbonise and thrive.  

 

Ms Jones says that the focus on foundational economy will ensure local procurement on a massive scale, “spending as much as possible of the Welsh public pound here in Wales.”

 

Prosperity Wales will be led by a Board made up not only of the best minds from the business world, but also experts in tackling inequality and in decarbonisation.

 

Plaid Cymru’s Shadow Minister for the Economy and Tackling Poverty, Helen Mary Jones MS said,

 

“There is nothing inevitable about the poverty that so many of our fellow citizens face. This poverty is both a direct result of, and a lack of, political decision.

 

“Prosperity Wales will be an economic development agency with a difference, drawing on expertise from the business world as well specialists in tackling inequality and decarbonisation. Tasked with developing our economy in such a way that opportunities are created fairly across our nation, there will be an emphasis on addressing historical patterns of discrimination that have led chronic injustice and inequality in the way our economy has functioned.

 

“Come the election in May, Labour will have had 21 years in which they have failed to deliver the transformation that Wales so desperately needs. A third of our children are in poverty, our Valleys still bear the scars of the ravages of Thatcherism and our rural communities remain fragile. And with a Welsh Tory party happy to hang on to the coat-tails of their Westminster parents, only a Plaid Cymru government will have the vision, ambition and passion to build the fair, green and prosperous nation - an equal nation - that we all want to live in.

 

“We are clear as a Party about the purposes of our economic policy. We have to make different decisions, and we have to do it now.”

 

ENDS

 

A CASE OF CAN DO BETTER…

Responding to Welsh Labour Government’s economic plan, Plaid Cymru’s Shadow Minister for the Economy, Helen Mary Jones MS said,

 

“Twenty years of a Labour government in Wales has been characterised by a failure of delivery. Stagnant wages, and missed targets in health, education and the environment has had a profound effect on the standard of living.

 

“The Welsh Government’s plan is a pale imitation of the £6 billion Welsh Green Deal already announced by Plaid Cymru – a transformational plan for the economy which will create 60,000 new jobs. There is little in Labour’s record that suggests they are fit to govern for another 5 years.”

With a promise to deliver a post pandemic recovery that sees Wales “working faster and smarter than the pandemic response” – a Plaid Cymru government would guarantee employment for 16- to 24-year-olds, build thousands of green new homes and prioritise small and medium sized Welsh businesses.

Adam Price added that the “ambitious but deliverable” raft of measures “should have been brought in years ago had the Labour Welsh Government shown a greater urgency to build a resilient economy.”

Unveiling the Re-Build Wales Rapid Recovery Plan – Plaid Cymru Leader Adam Price MS said:

“The Welsh economy is facing its biggest challenge for a generation. With unemployment due to reach 120,000 by the summer, we need an urgent alternative economic strategy which will not only create jobs but also support the thousands of businesses facing bankruptcy as a result of the pandemic.

“We will learn lessons and ensure that the post pandemic recovery sees Wales working faster and smarter than the pandemic response – with an unrelenting focus on protecting livelihoods.

“This is an ambitious but deliverable raft of measures which should have been brought in years ago had the Labour Welsh Government shown a greater urgency to build a resilient economy.

“Within its first few hours, a Plaid Cymru government would announce a £6 billion green economic stimulus, creating almost 60,000 jobs through tasking the National Infrastructure Commission with delivering shovel-ready investable projects.

“These could include building thousands of new social homes, retrofitting existing homes, expanding and electrifying the rail network, and delivering the fastest broadband to all parts of Wales.

“We would introduce a Welsh Youth Guarantee giving secure employment to every 16–24-year-olds on at least a Living Wage, zero-interest loans to get businesses back on their feet, and a reskilling programme giving those who were recently made redundant a £5,000 retraining allowance.  

“A Plaid government would also implement a new ‘local first’ procurement policy to give preference to small and medium-sized local businesses - setting a target of increasing Welsh firms’ share of public procurement from 52% to 75% - creating up to 46,000 jobs.”

AN AMBITIOUS APPROACH

An “ambitious approach” will be required for post-Covid recovery, Plaid Cymru has warned.

A report from the Bevan Foundation has exposed the effects the pandemic has had on Welsh households’ finances. The report suggests that almost a quarter of Welsh households have seen a fall in their income, whilst more than forty percent have seen an increase in heating and water bills.

Plaid Cymru’s Shadow Minister for the Economy, Helen Mary Jones MS said the Welsh Government must “urgently intervene” and said “bigger steps” would be needed to mitigate the long term financial impact of Covid.

Ms Jones drew attention to Plaid Cymru’s ambitious Covid recovery plan which includes the creation of nearly 60,000 new jobs, describing the need for big ideas to “eradicate the vast inequalities in Wales”.

Plaid Cymru Shadow Minister for the Economy, Helen Mary Jones MS said,

“This is a stark reminder that we cannot and will not just go back to how things were. The future for people in this country’s poorest communities has to change.

“Household finances across Wales have been hit hard by the pandemic, and the end of the furlough scheme will add to current pressures. With a drop of household incomes and a rise in the costs of living, the Welsh Government must urgently intervene in offering short and medium-term support for those struggling, taking bigger steps to mitigate the financial impact of Covid for the longer term.

“A government in Wales has to be ambitious in moving forward - in recovering from the pandemic and addressing the needs of the most in need. Plaid Cymru have ambitions to extend free school meals to all children and have a plan for an economic recovery from the pandemic which would create almost 60,000 new jobs.

“We have reached a point in which big ideas and rapid action is needed in order to eradicate the vast inequalities in Wales, many of which are apparent in the Bevan Foundation’s report.”

END