Party of Wales leader Leanne Wood has today unveiled her party’s ‘New Business Deal’ which would involve putting the business in the driving seat for directing public and private funds for the economic renewal of the country.
Addressing her party’s Spring Conference Ms Wood unveiled she would begin a wide-ranging consultation with business on the creation of a new business-led agency to identify and direct investment, reform to the business rates system that will reduce the tax burden on over 80,000 Welsh companies and an overseas trade initiative to match Welsh export opportunities with new and emerging markets.
The Party of Wales Leader Leanne Wood said:
“I want to maximise the potential of Welsh business expertise and talent for the good of the entire nation.
“That is why Plaid Cymru will begin a wide ranging consultation with business and others on how we can transform our economy by maximising the possibilities of European funds especially, private capital and resources from the Welsh and UK governments.
“The new cycle of European structural funds is underway and we may never get the same level of European funding as we will get from this year to 2020.
“I will therefore be consulting on establishing a new body, outside the Welsh Government.
“This new body, will be private sector-led and will proactively seek opportunities to invest European funds, other public funds and private capital for the maximum long-term economic benefit.
“It will establish a presence for Wales within the venture capital sector to match ideas with investment, inside and outside Wales.
“It will transform the current mentality of risk aversion and the current culture of administering rather than driving.
“The new body will bring together the best and brightest, working with our universities, trades unions and communities.
“For too long our approach to using EU funds especially has been fragmented, lacking in direction and lacking in focus.
“The new agency I propose will be over-arching, nimble and will seek out opportunities and realise them.
“It will not sit back and wait for things to happen. That’s Labour’s way – not Plaid Cymru’s.”
