Mike Hedges MS backs Welsh Labour Government’s mission for more prosperous, equal and greener economy

Mike Hedges MS backs Welsh Labour Government’s mission for more prosperous, equal and greener economy

As Wales continues to navigate the many challenges of coronavirus, Member of the Senedd for Swansea East, Mike Hedges has backed the Welsh Labour Government’s mission for how it will work to reconstruct and rebuild Wales’ economy, so it is more prosperous, equal and greener than ever before.

The Welsh Labour Government has published its Economic Resilience and Reconstruction Mission which sets out how it will work to rebuild Wales’ post Covid economy so that it values and prioritises wellbeing, drives prosperity, is environmentally sound, and helps every person in Wales to realise their potential.

The mission sets out the values and priorities that will shape the Welsh Government’s decisions now and, in the future, so that people, businesses and Wales’ communities are supported to succeed and prosper.

Priorities include strengthening the everyday sectors of the Welsh economy, increasing the incidence of fair work across Wales and reinvigorating our town centres. There is also a focus on supporting firms to innovate and diversify, speeding up business decarbonisation and investing in climate resilient infrastructure.

This includes making available an additional £270m to support business through the Development Bank of Wales. Operating alongside other Development Bank support, this represents a major investment in accessible finance for business and will help Welsh firms focus on their long-term success.

Backing the mission, Member of the Senedd for Swansea East, Mike Hedges said:

“This last year has been incredibly difficult for all of us and while we continue doing all that we can to combat the virus, it is important to think about what comes next.

“I’m glad that our Welsh Labour Government is taking the opportunity to look to the future and reconstruct our Welsh economy with the fundamental goal of achieving long term well-being with dignity and fairness for people.”

As part of the mission, the Welsh Labour Government will maximise future major investments through ‘magnet projects’, which will attract longer term investments and provide important employment, skills, and innovation and development opportunities.

The Welsh Government’s Covid Commitment will ensure the impact of the pandemic leaves nobody behind and that there is every possible opportunity for people to retrain and upskill in new and high-growth areas.

The Economic Contract will also be refreshed and strengthened helping businesses to embed fair work, low carbon and climate resilience into their operations.

Mike Hedges MS added:

“The Welsh Labour Government has a clear, ethical and coherent vision for economic resilience and reconstruction, anchored on social justice. With the commitment of our people, communities and the businesses that make up our economy, we can succeed in building a prosperous, fair economy and future that works better for everyone.

“I share that vision.”

ENDS