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Budget is UK Government’s chance to tackle economic imbalance


Plaid Cymru calls for action on economic fairness

Tomorrow’s budget must include action to tackle the economic imbalance that exists across the UK. That was the message of Plaid Cymru’s Shadow Economy Minister Rhun ap Iorwerth on the day before the Chancellor sets out the UK Budget.

The Party of Wales called for an Economic Fairness Bill to rebalance the economy on a geographical and sectorial basis.

In her Spring Conference speech, Leanne Wood warned of the dangers of a ‘spreadsheet recovery’ where the books look better but no improvement being felt on the ground. Rhun ap Iorwerth said that there is a danger that growth in the overheating south east of England is masking the extended period of hardship being felt elsewhere. He drew attention to the Party’s ongoing campaign for a Barnett consequential for Wales from any proposed expenditure on the HS2 high-speed rail network in England.

The Party of Wales Shadow Economy Minister Rhun ap Iorwerth AM said:

"The recent GVA figures again highlighted the imbalance between economies throughout the UK, and we know that much of the current growth is through a London housing bubble and a huge rise in personal debt. These are much the same factors as before - and there is nothing being done to prevent history repeating itself.

"That’s why Plaid Cymru is calling for an Economic Fairness Bill to rebalance the economy on a geographical and sectoral basis that would ensure a fairer distribution of growth and prevent London from over-heating.

"We would match that with the sort of ideas that make up our New Business Deal that Leanne spoke about in our conference last week and that we have been developing over the past few years.

"Plaid Cymru will also be keeping a close eye on announcements about the future of HS2. The Welsh Government has indicated that there isn’t even agreement about the funding of electrification in Wales, let alone high speed rail. As Plaid Cymru has said before, and will say again – there must be a full Barnett consequential for HS2 to come to Wales."

The Leader of Plaid Cymru Leanne Wood said:

"Plaid Cymru will continue to push for more jobs and better jobs in Wales, through increasing skills, better training and building our infrastructure to drive the economy forward."

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