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South Wales Argus
28-04-2025
- Business
- South Wales Argus
Plaid Cymru unveils economic plan to revive Welsh economy
The plan, titled "Making Wales Work: Plaid Cymru's New Economic Plan," was launched on Monday, April 28, at Coaltown Coffee in Ammanford. Luke Fletcher, Plaid Cymru's economy spokesperson, highlighted the plan's focus on retaining wealth within Welsh communities and fostering the growth of Welsh-owned businesses. Mr Fletcher said, "Our plan will see wealth built, retained, and recycled in our communities instead of it leaking, and in some cases flooding, out of Wales." The plan also aims to deliver "good jobs," revamp town centres, and improve living standards. Key pledges in the plan include enhanced support for Welsh businesses, a strategy for energy independence, and a future-focused skills strategy. The plan also outlines a new approach to innovation, backed by a new deal for universities, and support for community-owned businesses, social enterprises, and co-operatives. Mr Fletcher criticised Labour's long-standing governance, stating, "After 26 years of Labour in power, wages are too low, bills are too high, and too many decent businesses are closing their doors." He emphasised that a Plaid Cymru government would advocate for small and medium-sized Welsh businesses and strive for control over resources like the Crown Estate. The party plans to establish a new Welsh Development Agency to boost business growth. Mr Fletcher also criticised other parties, stating, "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." It comes after more than 6,000 people marched through Barry on the weekend, calling for Welsh independence. The March for Independence was organised by YesCymru and AUOBCymru.
BBC News
28-04-2025
- Business
- BBC News
Students out of Wales could lose £1k under Plaid
Welsh students studying elsewhere in the UK could lose a £1,000 grant if Plaid Cymru runs the next Welsh government, the party has the current student loans system, all Welsh students receive at least a £1k living costs grant, and potentially more depending on their household income, wherever they choose to study in the can then choose whether to take out a means-tested living costs loan to top it up to a set limit, based on whether they study in or outside of London or live at Welsh Conservatives said the plan reflected "extremely divisive nationalist ideology" and removed "freedom of choice". Plaid has been calling for a review of higher education funding after Cardiff, Bangor and University of South Wales were among Welsh institutions announcing job cuts. The party launched its plan for the Welsh economy on Monday promising a 'new deal' for university funding and a focus on supporting Welsh-owned businesses to polling suggests Labour, Plaid Cymru and Reform are neck and neck ahead of the next Senedd election in May party's economy spokesperson Luke Fletcher said: "We've got a situation right now where students are going across the border to England and we're in effect subsidising English universities when Welsh universities are really struggling."We have to find a balance, we have to find a way of retaining some of that cash in Wales to be able to support our own Welsh universities in their own research and their own innovation."It's about making sure we are not seeing that money flowing out of Wales, which is one of the primary issues of the Welsh economy - wealth and profit generated in Wales is flowing out of Wales and we have to find a way of retaining that." In its economy plans the party cited a study which suggests that removing the £1,000 grant and halving the total amount of grants paid to Welsh students studying in the rest of the UK would allow them to 'top-up' funding paid by Welsh government to Welsh universities by up to £ Plaid's plans became a reality then it could lead to accusations that students wanting to leave Wales were either being treated unfairly or could were having their options said that no-one would be stopped from studying outside of Wales, but that the "narrative" that to be successful you had to leave Wales needed to be Welsh government says it is currently involved in discussions with ministers in Westminster over the UK government's review of higher education a statement, they said: "It's important that people have the right to choose where they study, and Wales has the highest levels of non-repayable grant support provided to those most in need."Cutting student grants would mean cutting living costs support for students."We are currently undertaking an evaluation of the student support package we offer. However, we do not want to make it harder for any student to be able to go to the university of their choice"The Welsh Conservatives said that Plaid's plans would remove freedom of choice for Welsh students.
BBC News
21-03-2025
- Business
- BBC News
Plaid Cymru promises to cut business rates for small businesses
Plaid Cymru is promising to cut business rates for small businesses - and require larger ones to pay the party's Spring conference in Llandudno, economy spokesperson Luke Fletcher will say that how businesses are taxed needs to change if Welsh town centres are to party plans to cut rates for "domestic small businesses", offsetting the cost by increasing rates for large cut Covid-era discounts on business rates for retailers, pubs and restaurants last year, leading to claims it left some businesses "on the edge". The business rates plan is part of Plaid's pitch for the next Senedd election in May will say: "Our high streets provide a lens on the challenges facing Welsh businesses - challenges that Labour in Wales has failed to address or made actively worse over a quarter of a century in power."An independent store owner on the high street in Aberystwyth pays nearly ten times more than a major chain on the town's outskirts, and significantly more than an equivalent business in England would."In Bridgend, a locally-owned and managed coffee shop and bakery pays the same level of non-domestic rates as its multinational competitors."Business rates are paid by small and larger companies to contribute to local services. The funds are pooled into a central pot before they are given to Plaid Cymru plans, smaller businesses would be a "preferential multiplier" - a specific amount by which rates are worked out from the rateable value of a property.A briefing from the party suggested this multiplier could be half of the value of what is currently party said this would be offset by increasing the multiplier for large gave a case study of a coffee store in Bridgend, which it said could see their rates cut from £1,537 to £ economy spokesman said he will launch Plaid's economic plan "in the coming weeks".He will tell conference: "Our plan will see capital built, retained and recycling 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 town centres, and boosting living standards." The final day of Plaid conference will also hear a speech from former leader Adam Price on his justice portfolio.
