Many businesses in Wales already punch above their weight globally. But the Welsh economy is also bursting with untapped potential.
Our economic plan will unlock that potential – growing and sustaining Welsh-owned businesses, delivering good jobs, reviving our town centres and boosting living standards.
Through a new, business-led National Development Agency for Wales, we will help Welsh businesses to secure investment, trade and innovate. We will ensure that more of our successful businesses stay Welsh owned – providing sustainable and well-paid jobs in our communities and reinvesting in local supply chains over the longer term.
We will use public procurement to better support businesses in Wales, aiming to increase the level spent on procuring goods and services from Wales-based suppliers from the current 55% to at least 70% of total Welsh public procurement expenditure.
We will reform business rates to level the playing field for businesses on our high streets, and redress the existing imbalance that advantages out-of-town shopping over hospitality, leisure and retail in our town centres.
And by developing a Welsh skills system that is fit for the future, we will ensure that everyone has the skills they need to get ahead. We will make sure that education and training opportunities are aligned with the real needs of Welsh employers and industries, and reflect future opportunities in the Welsh economy.