Parties’ leadership continues to dominate politics in Wales
IT has not been a quiet summer for politics in Wales. Each of the political parties represented by a group in the National Assembly is in the process of holding a leadership election or has recently announced a new leader.
Carwyn Jones announced his intention to stand down earlier this year, and a new Welsh Labour First Minister will be in post by the end of 2018.
There are currently several contenders, with possibly space for one more runner to squeeze on to the ballot and join Mark Drakeford and Vaughn Gething.
Paul Davies was announced as the new leader of the Welsh Conservatives last week, and a few weeks previously Gareth Bennett became the new leader of Ukip in the National Assembly.
Finally, Adam Price, Leanne Wood and Rhun ap Iorweth are currently in the running to be the new leader of Plaid Cymru, with an announcement due at the end of September.
Wales is at a crossroads. Twenty years after devolution and with Wales’ exit from the European Union on the horizon, there has never been a more important time for the Welsh economy.
Our national institutions, the Welsh Government and the National Assembly for Wales, require leadership from all parties to chart a course towards a brighter economic future.
Businesses expect to see a longterm vision for the Welsh economy from their political leaders and one that is not just subject to the whims of political cycles.
That’s why FSB will shortly issue an Agenda for Leadership to all of those taking part in leadership elections. Our message to them is simple – Wales’ future prosperity relies on the success of our 250,000 micro, small and medium-sized companies. Together, they provide jobs and wages to over 700,000 people in Wales and generate £48bn in sales every year.
It is stating the obvious to say that businesses in Wales are operating during a state of significant uncertainty.
Our political leaders must recognise the need for stability in order for businesses thrive.
Brexit continues to dominate the political landscape, with the narrative on the likelihood of a no-deal Brexit changing on an almost daily basis.
There continues to be little clear direction from politicians on what Brexit will look like and how businesses can prepare.
It is vital that our political leadership ensures that the interests of Welsh businesses are front and centre of any negotiations.
Our politicians should also be seeking to represent all SMEs in Wales.
Self-employment is increasing in Wales and our research demonstrated that this accounts for 38% of jobs growth in Wales over the past 10 years, with 15% of the population being self-employed.
Most of this is down to Welsh entrepreneurs pursuing opportunities to set up businesses.
Our new leaders must show genuine commitment to recognising the value of self-employment by placing it at the heart of economic development activity.
We need a new narrative on our economy.
Our research has shown that Wales has a “missing middle”. Our economy is imbalanced between large international companies on the one hand and micro-businesses on the other.
In the past, economic policy has been about attracting large firms to Wales.
Instead, we have argued that growing our small firms into locally anchored, globally focused mediumsized firms is a better path to success.
FSB’s Agenda for Leadership will act as a clear clarion call for all new and prospective political leaders in Wales, who must take advantage of the elections taking place this autumn to outline their vision for our economy, so that Wales can move forwards with confidence.