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Welcome
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Insider’s new public sector newsletter
Welcome to the first issue of Wales Business Insider’s bulletin of key government and political developments affecting business. Every week the editorial team will seek out and highlight the top stories from the Welsh Assembly Government, public sector agencies, councils and Whitehall. The public sector is a major player in the Welsh economy and an important customer for Welsh companies. By presenting the sector’s activities in an impartial way, we hope to keep business well informed and highlight commercial opportunities. Please let us know what you think.
Douglas Friedli, editor
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Base rate cut to 3 per cent
The Bank of England today slashed the base rate to 3 per cent from 4.5 per cent. The cut to the lowest rate since 1955 was far sharper than the half point reduction most economists expected. Last month the bank’s Monetary Policy Committee cut rates from 5 per cent. David Rosser, CBI Wales director, welcomed the move, saying: "This is a bold and welcome move by the Monetary Policy Committee, and achieves what the CBI had been calling for. Business and consumer confidence has been deteriorating sharply in recent months, and recession has replaced inflation as the major threat to the economy over the next year or two." 
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Jones aims to build construction revival
Deputy first minister Ieuan Wyn Jones will today outline how the Welsh Assembly Government can kickstart a revival in the construction sector. Jones will meet business leaders in St Asaph today for the second All-Wales Economic Summit, called to soften the impact of the global financial crisis on Wales. The minister acknowledged that Wales has suffered from a series of job cut announcements in recent weeks, but promised the Assembly would act to take the heat off business: “Devolution allows us to use the powers at our disposal so we can secure greatest impact and minimise the effect of the global economic downturn.”
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Assembly mulls rates cut…
Ministers are prepared to reduce a mooted increase planned for business rates next year as part of a package of measures to support companies. The “multiplier”, which fixes business rates, is set to rise to 0.489 from 0.46 in April 2009, but the final number will depend on the budget settlement and political priorities. In October local government minister Brian Gibbons unveiled a £7m rates relief package for smaller companies.
… and lobbies on empty rates
The Assembly Government will lobby Westminster for an exemption to rates on empty properties. Speaking at the Assembly, deputy first minister Ieuan Wyn Jones said: “This is an issue we have to take up with the UK government. I think we have the powers in the Assembly to do it, but it would be difficult, financially, for us to do that on our own. I am pretty sure we will be making strong representations on that.” CBI spokesman Leighton Jenkins said: “This is a step in the right direction. If employment premises are not excluded, Wales will find itself short of commercial and industrial properties that are crucial to attracting inward investment and securing new jobs.”
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Affordable proposal for Newport
A plan for more than 100 affordable homes in the Old Town Dock area of Newport has been put forward by Fairlake Properties on behalf of client Charter Housing. The area is an important part of the regeneration of Newport, spearheaded by Newport Unlimited with Newport City Council and the Welsh Assembly Government. Images of the development have been unveiled by architecture firm Powell Dobson and work is expected to start early next year. The homes are expected to get a high (code 5) rating under the Welsh Assembly’s preferred Code for Sustainable Homes.
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All change in north Wales
Conwy County Borough Council is set to appoint a chief executive from a Cornish local authority. Byron Davies, who should not be confused with the Cardiff council chief of the same name, will join Conwy from Caradon district council shortly. Neighbouring Denbighshire county council is also looking for a new chief executive following the resignation of chief executive Ian Miller this week.
From Hollywood to Llanelliwood
Carmarthenshire County Council plans to lure film and TV moguls to use the area as a backdrop for movies and shows. The council is working with the Welsh Screen Commission to identify and show distinctive locations such as the Wildfowl and Wetlands Centre, Llywn Hall, North Dock and Kidwelly Town Hall. Tourism and marketing manager Huw Parsons said: “Carmarthenshire has many fantastic locations, from natural resources such as our beaches to huge warehouses, that would make ideal sets.”
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Public sector gains power
Economic uncertainty has shifted the balance of power in Wales towards politicians and civil servants, according to Insider’s Power 100 for 2008. The ranking of Wales’ most powerful people, in November’s issue out this week, shows a return to the top for first minister Rhodri Morgan and 25 new faces on the list compared with 2007. You can also read the thoughts of Welsh Rugby Union chief executive Roger Lewis on leadership, and Professor Brian Morgan of UWIC on the skills you need to get to the top in Wales.
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