Plaid Cymru’s National Infrastructure Commission for Wales (NICW) could deliver new schools, hospitals, roads, railways and broadband infrastructure across Wales, the party’s Shadow Cabinet Minister for Finance and Economy Adam Price has said.
Launching the Party of Wales group policy paper on Monday 3rd October, Carmarthenshire Assembly Member Adam Price said that NICW had the potential to transform the economy in all parts of Wales by investing in much-needed capital investment infrastructure projects.
NICW should be owned by the Welsh Government but would operate on an arms-length basis he said. It should be charged with identifying, costing and prioritising a programme for projects that would collectively boost the economy in all across Wales and deliver towards the Welsh Government’s infrastructure strategy.
Plaid Cymru’s Shadow Cabinet Secretary for Infrastructure Dai Lloyd added that infrastructure was an essential ingredient for economic success, but the government’s ability to invest in a meaningful programme of infrastructure investment was hampered by a cap on borrowing power and by the UK Government’s austerity agenda.
NICW is an innovative model that will allow it to raise some £7.5 billion over ten years to invest in vital economic and social infrastructure projects throughout Wales.
Plaid Cymru Shadow Cabinet Secretary for Finance and Economy Adam Price said:
“Plaid Cymru’s National Infrastructure Commission could transform Carmarthenshire and transform Wales. We can improve social conditions through projects such as building new schools, roads, hospitals and improving broadband, and we could create a large number of jobs in all parts of Wales.
“That money is currently not available and that’s why we need to be creative. The Labour government needs to be far more innovative than it has been in the past and that’s why Plaid Cymru has brought forward this policy proposal that we expect the Welsh Government to adopt.
“NICW could allow the government to increase capital investment by £7.5 billion over the next ten years, providing a fairer alternative to Private Finance Initiative (PFI) which would ensure the retention of some profits for further investment within the public sector.
“This level of funding could finally see projects like the Llandeilo bypass, Ammanford relief road, and routes between Cardigan and Llandysul to Carmarthen no longer kicked into the long grass, and the seemingly glacial pace of broadband improvement in rural communities could have a much needed attention it deserves.
“Eventually, NICW has the potential to deliver greater levels of economic growth throughout Wales, and over the long term it could reduce the economic gap between Wales and the rest of the UK.”
Plaid Cymru Shadow Cabinet Secretary for Infrastructure Dai Lloyd said:
“Investing in infrastructure projects is crucial to creating jobs, bringing investment to all parts of Wales, and ensuring long-lasting economic success, and that’s why we need to look at innovative models to bring forward investment in times of austerity.
“Wales has suffered from a relative lack of infrastructure investment over recent years but it’s time for us to bring forward innovative ways to get the economy moving again.”
Click here to download the policy paper.
Listen to Adam on Radio Wales this evening: