PROCUREMENT OPPORTUNITIES MUST CREATE INNOVATION FOR WELSH ECONOMY

Mid and West Wales Labour AMs, Alun Davies and Joyce Watson have called on the Government to continue to take Wales forward as a nation leading the way in innovation, boosting Welsh businesses.

The Assembly Members’ call comes in response to the pre-Budget report and the announcement that £5billion is to be injected into the Welsh economy.

Mr Davies said it is crucial the intervention is used strategically: “This important injection should be used to promote and create a context for the sustainability and working practices of Welsh businesses, promoting business opportunities in Wales.”

“The Welsh public purse is directly responsible for sustaining 100,000 jobs in Wales. In moving procurement policy forward, the move to regional contracting has enabled more small and medium sized businesses to win Government Contracts. I know from my experience of running a business that it has become much simpler for smaller operations to secure bigger contracts.”

Mrs Watson continued, saying that the Government must capitalise of the package of relief measures contained within the pre-Budget report, to ensure that future policies continue to benefit Welsh businesses:

“The announcement of £1bn funding to increase lending to SMEs, the decision to defer the 1p increase in corporation tax, and the temporary cut in VAT all come as a real boost to the Welsh economy. And the introduction of the new Business Payment Support service, to allow struggling firms to spread their tax payments, will give respite to many Welsh businesses.

“Welsh Assembly Government economic spending must now be harnessed to stimulate and create demand for new and innovative products and services through the green jobs strategy for example. We can make Wales a place in which to do business whilst also introducing low carbon and resource efficient products, processes and services which provides good value for the tax payer and business as well as securing a more prosperous Wales.”

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