Plaid Cymru is urging Welsh shoppers to support their high streets all year round and back their local traders. The party’s Shadow Cabinet Secretary for Economy and Infrastructure Adam Price said that supporting local businesses was crucial to keeping wealth locally and creating jobs.
However he said that the Welsh Government should do far more to support businesses by giving permanent business rate relief to more businesses, and giving more public sector contracts to smaller local firms.
Plaid Cymru Shadow Cabinet Secretary for Economy and Infrastructure Adam Price said:
“Christmas shopping gives us a perfect opportunity to support local businesses but it’s important that we remember to also show our support throughout the year.
“As shoppers, we have enormous buying power. Every £1 we spend in a local shop is worth 63p to the local economy and small firms generate 58% more economic benefit for local economies than large firms.
“But the onus isn’t all on us as shoppers; the Welsh Government should be leading on this and could do much more to support Welsh businesses.
“Plaid Cymru wants to see the Welsh Government introduce permanent business rate relief for 90,000 small businesses – 20,000 more than the Welsh Government is offering – and we want to give more public sector contracts to local business. At the moment Welsh Government says 50% of £6 billion public procurement is sourced from Welsh Companies – we’d like to see that increased to 75%, putting another £1.5bn into the pockets of Welsh companies.
“We’d like to see the Welsh Development Bank given an extra £500 million to plug the funding gap – using the Financial Transaction monies recently transferred from Westminster, and seed the development of a new network of community banks on our high streets.
“Let’s make it our new year’s resolution to show our local traders how much we value them, and support them as much as we can in 2018.”