Tag Archives: economy

A multi-billion pound plan to upgrade Wales’ infrastructure

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Plaid Cymru government can drive economic growth

A Plaid Cymru government will deliver a multi-billion pound investment in Wales’ infrastructure to reboot the economy, the Party of Wales’ Shadow Economy Minister Rhun ap Iorwerth has said. He said that a Plaid Cymru government, if elected in May, would be a driver for economic growth.

Rhun ap Iorwerth said that one of his party’s main goals is to bring wealth generated per head in Wales up to the UK average. Currently the figure – at 71.4% of the UK average – is the lowest of any UK nation or region.

Earlier this week Rhun ap Iorwerth set out his plans to revive Wales’ economy, planning to re-establish the WDA brand for a new trade and investment body, establish National Infrastructure Commission Wales (NICW), and to help Wales’ businesses grow by establishing a National Bank of Wales to bridge the funding gap of £500m a year faced by Welsh SMEs.

Through NICW, he said, Plaid Cymru will deliver a major a multi-billion pound investment programme that will upgrade physical and digital infrastructure in Wales.

Plaid Cymru Shadow Economy Minister Rhun ap Iorwerth said:

“A Plaid Cymru government can be a driver for economic growth. Our over-arching objective is to reverse Wales’ ever-widening economic attainment gap with the rest of the UK within a generation. There is no reason for Wales to lag behind, yet the wealth generated per head is lower than any other part of the UK, wages in Wales are around £100 per week lower than the UK average, and unemployment in Wales is higher.

“As part of our plans, we propose to establish a new body, National Infrastructure Commission Wales, an independent public corporation that will plan, fund and deliver the aspirations set out in the National Infrastructure Investment Plan.

“NICW will raise funds independently of the government, and will invest in both physical and digital infrastructure. It’s an ambitious plan, but it is Plaid Cymru’s opinion that we cannot afford not to upgrade our infrastructure and build the foundations for a period of steady economic growth. We must secure the right transport, technological and connective environments for businesses in Wales to thrive.

“It’s time to reboot the economy, and a Plaid Cymru government can be a driver for the economic growth we need.”

A WDA for the 21st century will establish Wales as a trading centre – Plaid Cymru

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Plaid Cymru make pledge to boost exports and investment

Plaid Cymru will re-establish Wales’ reputation as a trading nation the party’s Shadow Economy Minister Rhun ap Iorwerth has today announced.

Speaking to the business community in a keynote address, Rhun ap Iorwerth announced that a Plaid Cymru government will create a new trade and investment promotion agency, restoring the WDA brand which remains a globally-recognised brand.

Rhun ap Iorwerth also announced that a Plaid Cymru government will embark upon the biggest programme for reconstruction Wales has seen since devolution, led by a newly-established National Infrastructure Commission Wales (NICW). NICW will be a new independent public corporation that will plan, fund and deliver the aspirations set out in the National Infrastructure Investment Plan.

Plaid Cymru will also establish a National Bank of Wales to provide finance to Welsh businesses to help plug the estimated funding gap of £500m per year faced by Welsh businesses, and to help Welsh businesses by offering business rate relief to 83,000 of them, taking 70,000 out of rates altogether.

Plaid Cymru Shadow Economy Minister Rhun ap Iorwerth said:

“I am announcing that a Plaid Cymru government will create a new arms-length trade and investment promotion agency for Wales, a WDA for the 21st century.

“This will be a public-private partnership, with strong representation from business on its board, autonomous from the Civil Service but answerable to government.

“It will use the restored WDA brand – as the Wales Development Agency – to work globally and throughout the UK, to attract new businesses to Wales, to boost Welsh global and intra-UK exports.”

“A renewed WDA is not an attempt to turn back the clock, rather to build on previous success and learn from past mistakes.

“It will facilitate the delivery of our economic plan at home and re-establish Wales as a recognisable, desirable centre for investment on the world stage.

“The initiatives I have described to you today I believe reflect the restlessness of Plaid Cymru.

“We are ready and are agitating for the opportunity to steer a new course for our country.

“To take Welsh economic expectations to a higher level.

“To pull all sectors of our country together so we are all aspiring for the same outcome.

“To re-establish Wales as an economic and industrial powerhouse for the benefit of its people and its communities.

“Plaid Cymru will end years of managed decline and our aim will be to make the next decade the decade of prosperity for Wales.”