The loss of Debenhams in Friars Walk was a bitter blow - which while covid did not help - in reality the Debenham’s retail model had been failing for some years. That said, Marks and Spencer quit the city centre stating amongst other things the lack of parking and the difficulties of modernising their building. Perhaps they might consider making use of the former Debenhams building - which is effectively brand new and has plenty of parking. The Friar’s walk development itself was too small, too limited in scope and failed to create the retail space for local businesses to set up from the start. While there have been some tentative steps towards that recently, at a fundamental level that has to change from now on - there has to be a blend of local businesses and the usual suspects - there is room enough to make this work. One basic economic fact is that if you spend ten pounds in local business it will circulate three times longer locally in the local economy that ten pounds spent in a chain outlet. Newport has suffered because of the unhealthy obsession with directly competing with Cardiff and Cribs Causeway. We seriously need to focus on growing small local businesses that supply our needs as well as hosting the usual suspects to bring economic life back to our city centre. If we can do this then we can bring sustainable economic growth and some life back to our city centre.
Tuesday, June 8, 2021
Sunday, April 25, 2021
A SMARTER ECONOMY FOR WALES
Plaid Cymru Leader Adam Price has today (Sunday 25 April 2021) launched his party’s Business Manifesto, setting out ambitious plans to create “a smarter economy”.
Adam Price said that “Wales has one of the lowest levels of local business ownership of any advanced economy” and that a Plaid Cymru government “would ensure that a new emphasis is placed on supporting indigenous firms with potential for growth”.
One of the main pledges is emergency Covid-19 support for businesses in the form of zero interest loans that Mr Price said would help “accelerate the post-pandemic recovery”, as well as emergency reskill grants to address skill shortages in specific sectors.
Other elements of the Plaid Cymru Business Manifesto include:
- Providing immediate Restart Grants of up to £20,000 to businesses in the retail, hospitality, and leisure sectors (and others affected by lockdown restrictions).
- Developing Emergency Reskill Grants to address skill shortages that may emerge in specific sectors of the economy, for example in hospitality.
- A Local First policy built around local ownership of business.
- Introducing proposals during the coming Senedd term for a Site Valuation Tax covering commercial and industrial land – agricultural land will be exempted – aimed at scrapping non-domestic rates.
- Offering Business Protection Grants of up to 90% of fixed costs for businesses that will continue to be affected by the effects of the pandemic over the course of the next 18 months.
- A Make it Welsh policy to substantially increase the proportion of our economy which is domestically owned.
- Delivering a £6bn programme of investment to support business development and a Welsh Green Deal.
- Establishing Prosperity Wales, and arms-length all-Wales development agency to provide effective policy delivery for business.
Adam Price said:
“Wales has one of the lowest levels of local business ownership of any advanced economy. That must change.
“Our plans for a smarter economy will be based on expanding, supporting, and protecting domestic businesses. A Plaid government will ensure that a new emphasis is placed on supporting indigenous firms with potential for growth.
“We recognise that the past year has been a huge challenge for Welsh businesses. That’s why a Plaid government would bring in emergency Covid-19 support, offering zero interest loans for business to accelerate the post-pandemic recovery.
“My focus as First Minister would be on supporting as many people as possible back into work, be that through Plaid Cymru’s Youth Job Guarantee or by supporting businesses with additional financial support.
“We would extend business rate relief to the hospitality sector and other worst affected businesses, initially until the end of June and longer as necessary.
“In addition, we would develop an emergency support scheme to cover up to 90% of fixed costs for businesses that will continue to be affected by the pandemic over the course of the next 18 months.
“Other policies range from boosting procurement to driving up levels of innovation and entrepreneurship.
“Our £6 billion programme of investment – the Welsh Green Deal – would create up to 60,000 jobs ensuring that job-creation and growth benefit the economy and environment alike.
“This is an ambitious, fully-costed plan that proves that Plaid Cymru is the party of Welsh business.”
- ENDS -