Plaid Cymru unveils plan to ‘breathe new life’ into the Welsh economy

Plaid Cymru has launched its new economic strategy for Wales, including the creation of a new Welsh Development Agency, ahead of next year’s Senedd election.

The party’s economy spokesperson Luke Fletcher pledged that the new economic plan ‘Making Wales Work’, will “breathe new life” into the Welsh economy after decades of Labour stagnation and says the plan underpins Plaid’s vision for “building a stronger, fairer economy” for Wales if they are elected to government at the Senedd election next year.

Mr Fletcher said the plan would see “wealth built, retained and recycled in our communities instead of it leaking, and in some cases flooding, out of Wales”.

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Pledges

The plan, which will be published in full later on Monday, includes pledges to ensure:

Better support for Welsh businesses, helping them to grow, and keeping successful companies here in Wales.

Energy independence – control over our natural resources so that our communities really benefit from renewables.

A skills strategy fit for the future, so that everyone has the skills they need to get ahead.

A new, strategic approach to innovation backed up by a new deal for our universities.

Wealth in and for our communities by supporting community-owned businesses, social enterprises and co-operatives.

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Vision

Luke Fletcher said: “After 26 years of Labour in power, wages are too low, bills are too high, and too many decent businesses are closing their doors. Labour has no clear plan or vision to make Wales thrive.

“Making Wales Work: Plaid Cymru’s New Economic Plan will breathe new life into the Welsh economy, turning around decades of Labour stagnation.

“Our plan will see wealth built, retained and recycled in our communities instead of it leaking, and in some cases flooding out of Wales. It will grow and sustain Welsh owned businesses, delivering good jobs, reviving our own centres and boosting living standards.

“Our vision is of a Wales in which no child grows up poor, where every young person has access to fulfilling work, education or training, and where the economy works for our people and our communities, not the other way around."

Welsh Development Agency

He added, “With a Plaid Cymru government, small and medium-sized Welsh businesses will finally have a government on their side. We’ll create a new Welsh Development Agency to make Wales a great place to start and grow a business.

“We’ll fight for control over our own resources, like the Crown Estate, invest in skills, and use every power we have - and push for more - to build a thriving economy that works for all of Wales.

“We know that this is not as good as it gets for Wales. Making Wales Work provides a blueprint for a fairer, more ambitious approach on the Welsh economy.

“Labour has let Wales down, and other parties have no answers. Plaid Cymru has the energy, ambition, and ideas to deliver the fresh start Wales needs - and we are ready to begin the work of delivering it now.”