Plaid Cymru’s Shadow Economy Minister, Rhun ap Iorwerth, has today outlined how his party’s government would launch the largest infrastructure investment programme since devolution in order to transform Wales’s roads, railways, schools, hospitals and homes.
Profits made by NICW - the National Infrastructure Commission Wales - would be retained and used to improve its balance sheet and to invest in further public sector infrastructure projects in Wales.
Rhun ap Iorwerth said that the projects included in NICW would be located in all parts of the country, benefitting the Welsh economy as a whole as well as better connecting communities and addressing the postcode lottery currently blighting the Welsh NHS.
NICW forms a part of Plaid Cymru’s fully-costed and independently-verified manifesto. The investment plan will seek to raise £7.5bn for capital investment projects over a ten-year period.
Plaid Cymru Shadow Economy Minister Rhun ap Iorwerth said:
“To be economically and socially successful, any country needs a modern and efficient infrastructure.
“That is why Plaid Cymru has adopted an innovative approach to bringing forward the largest capital investment project since devolution, designed to transform Wales’s roads, railways, schools, hospitals and housing stock.
“NICW's main aims would be to enable the Welsh Government to use part of its current expenditure for funding capital investment in an efficient manner. NICW would also create a specialist body experienced in procurement and negotiation with contractors, resulting in a more efficient delivery of public sector infrastructure projects, and the driving down of costs.
“Any profits retained in NICW would be used to improve its balance sheet and to invest in further public sector infrastructure projects.
“Plaid Cymru is committed to uniting Wales. This will require better connected communities, faster and easier access to vital public services, and reliable internet access which is so crucial to businesses.
“By modernising rail links and main road arteries such as the M4 and A55, delivering superfast broadband to all, and making unprecedented investment in home energy efficiency, NICW will achieve this aim.
“We will also build 10,000 additional new affordable homes, set up a network of local energy grids, improve school buildings, and invest in port infrastructure and tidal lagoon developments in all parts of Wales.
“NICW will offer a better alternative to the failed PFI (Private Finance Initiative) model. This bold but prudent investment plan holds huge potential to transform Wales’s infrastructure, stimulating the economy and delivering tangible improvements to people’s everyday lives.”