The Chambers of Commerce in Wales have set out what they believe are the key priorities to build a sustainable economy for Wales.
Written as a guide to both the current and next Welsh and UK governments, the ‘Campaign for Welsh Business 2015 – 2020’ represents the views of businesses from across Wales for the first time as the South and Mid Wales Chambers of Commerce join with the West Cheshire and North Wales Chamber of Commerce to layout the measures they believe will foster economic growth, create jobs and a stronger, more vibrant economy for people across the whole of Wales.
Launched at the Senedd today (06 November 2014), the document calls for changes that will help make immediate improvements to the SME community, while also proposing initiatives that will have more of a long-term impact. The ‘Campaign for Welsh Business 2015 – 2020’ calls on the next UK and Welsh governments to:
· Build the transport network for the future by creating a national transport body for Wales, independent of all levels of government, to decide on transport infrastructure priorities and co-ordinate transport planning across Wales;
· Develop communications for the modern world by working with business owners to maximise the take-up of the latest communications-based services and technologies;
· Improve the skills of the current and future workforce by putting in place a national workplace basic skills training programme that every adult can access and ensuring that secondary schools are assessed on employment outcomes to improve the way in which young people are prepared for the world of work;
· Encourage business ambition among Wales’ people by setting up a ‘National Entrepreneurial Challenge’ competition, open to groups of people of all ages, and work with financial and advice providers to ensure that those dealing with individuals starting a business are representative of the population at large;
· Help today’s businesses thrive by creating a National Bank of Wales as a private sector driven bank, run with the sole aim of assisting Welsh businesses;
· Secure Wales’ energy needs to create a central fund for all community benefits funding deriving from renewable energy projects;
· Increase how much Wales exports to the rest of the world by creating a new arms-length International Business Organisation with more input from internationally active businesses;
· Get the governance of Wales right by getting rid of the outdated Barnett Formula and introducing a fair funding system across the UK and encouraging action from the city regions created in South Wales.
Graham Morgan, director of the South and Mid Wales Chambers of Commerce, said: “According to a range of measures, Wales’ economy lags behind most of the United Kingdom’s and we heard just last week that Wales will receive its third lot of structural funding from the European Union, indicating that progress is not being made in developing Wales’ economy.
“For this to change both the Welsh and UK governments need to take a long-term view for economic development in Wales. Quick wins are good for the short-term but they will not produce a sustainable economy for the future.
“Over the next five years, we need to see substantial work take place to make sure that the foundations on which the Welsh economy is based are strong. The proposals we are campaigning for are designed to help this process.”
Colin Brew, executive director of the West Cheshire and North Wales Chamber of Commerce, commented: “We are pleased to be working with the other accredited Chambers of Commerce in Wales on one campaign that reflects the priorities of businesses right across the country. Although the needs of businesses differ from area to area, our main aim is to bring businesses together to work for a common goal.
“With the UK General Election in six months’ time and the Welsh Assembly Election a year later, this is a key time for business leaders to stand up and let politicians know what we think they should be doing to support the Welsh economy. Our campaign comes after a wide ranging consultation with members of each Chamber of Commerce, and other business people, right across Wales.
“We will be working with politicians, businesses and other organisations over the coming months to urge them to take note of what the business community is saying and implore them to provide the optimum conditions that will help businesses to work towards a more prosperous future.”