The new Secretary of State for Wales must prioritise confidence in the economy.
The General Election is now over, and Prime Minister Boris Johnson has a Conservative majority in Parliament. Simon Hart has been named as the new Secretary of State for Wales and David TC Davies was announced as Wales Office Minister.
They are entrusted with being Wales’ voice in Westminster, and helping to support our economy and our 265,000 small businesses and self-employed individuals in Wales.
As we come to an end of these very uncertain and testing times for businesses in Wales and with the election now behind us, we feel strongly that parties should now come together to help develop a way forward for the economy which will engender a greater degree of certainty.
As the new cohort of Welsh Members of Parliament leave for Westminster, it is vital that they consider how they can support these businesses and help create the conditions for them to thrive.
These businesses create jobs for over 700,000 people in Wales and drive £48bn in sales every year. With the right support from our MPs and AMs, smaller firms can continue to deliver for our economies and, indeed, our country as a whole. There are several issues that we would argue should be central priorities for our Welsh MPs, and our new Secretary of State.
First and foremost, is how we ensure that Wales is able to continue to thrive post-Brexit. Wales currently receives significant amounts of money through European funding, which supports key aspects of the business environment.
For instance, Business Wales’ circa £80m budget is funded by around £55m from the European Regional Development Fund as was Superfast Cymru and investment in the Heads of the Valleys road.
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The 海角视频 Government should guarantee that Wales continues to receive the same level of funding, which should then be placed under the spending control of Welsh Government.
Secondly, the devolution of Air Passenger Duty (APD) to Wales should be addressed. Devolving APD to Wales has been a long-time campaign of FSB Wales that has recently been rejected by 海角视频 Government following an inquiry by Parliament’s Welsh Affairs Committee. Devolving the tax – and therefore bringing Wales into line with Scotland and Northern Ireland – would enable Cardiff Airport to attract more international flights and open up new export destinations to Wales’ businesses. It would be a boost for our economy and to the businesses looking for new international opportunities.
Furthermore, businesses need 海角视频 Government to reverse the chronic underinvestment in rail infrastructure in Wales. FSB Wales has been campaigning for further investment in rail electrification since the planned extension to Swansea was cancelled in 2018, and to recommit to this project would be a boost for business confidence in the region as well as modernise and future proof this essential infrastructure asset.
Similarly, Growth Track 360 provides a catalyst for investment in North East Wales and the cross-border communities.
Above all, it is vital to understand that small firms represent some of the very best of Wales. They are passionate, driven and hugely ambitious for their businesses.
Whether they employ hundreds of staff or are a self-employed individual, it is imperative that businesses feel that their ambition is backed by 海角视频 Government and the 海角视频 Parliament. Businesses want to see energy, innovation and enthusiasm from our elected representatives, and a passion for making Wales the best it can be.
As the principal voice of Welsh business, at FSB Wales we look forward to continuing to work with Welsh MPs, and beginning a constructive, positive relationship with those new representatives. Congratulations to everyone who was elected last week, our team looks forward to working alongside our MPs
Ben Francis is FSB Wales policy chair.