What Wales Can Do: Asset Based Policies and the Foundational Economy
On 29th June in Swansea foundationaleconomy.com and CREW launch What Wales Can Do a new report on policy for the Swansea Bay city region. This new report follows up the earlier 2015 report What Wales Can Be and adds new evidence, arguments and framing. The argument in this new report is for an asset based approach to developing the foundational economy in the region. The starting point is two observations about the limits of the main stream policies and policy making. The Swansea Bay City Deal which was signed off in Spring 2017 focuses on next generation industries which will never be volume employers; and more fundamentally, government (local, Welsh and national) does not know what to do in key policy areas like small business support and adult care. So what we need is a coalition of state and non- state actors to undertake scaleable experiments. These would aim to break down the barriers between economic and social policy and increase tangible welfare (not market incomes measured by GVA per capita). The report can be downloaded here.