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Matt Ace is a director in the Wales office of engineering firm and regeneration specialist Hydrock
The publication of the government’s levelling up white paper begs the question: is “levelling up” enough?
In Wales, our issue has never been a lack of ambition, but instead one of distance. The long route to Westminster along the M4 corridor has kept us at arm’s length from key decisions that affect investment. Michael Gove’s white paper, which seems focused on levelling up within England, is another sign that the devolved nations are on the periphery of the government’s plans.
The government’s £2.6bn Shared Prosperity Fund will “empower local leaders” and be a “shared national project”. Two phrases seemingly countered by the investment being administered from London, rather than the regions.
Pathfinders for regeneration
The £1.5bn Swansea Bay City Deal is a prime example of regionally-led funding that delivers projects that work for sectors, businesses and localities across an area of Wales. A flexible, hybrid model of funding from the Welsh and UK governments, as well as private sector investment, shows the benefits of working together for communities.
“With a tailored framework and the power to make our own decisions, we can derive best value from the funding we do get and create the strongest voice for Wales”
If expanded and delivered collaboratively, the Shared Prosperity Fund could ignite transformative opportunities for Wales in the same way, but only with the control centred at home, and with a significant increase in capital.
In recent years, we’ve seen our major cities push forward with exciting and transformative developments that will leave a lasting mark for future generations. But now it is time to focus on investing smartly in other places and projects so that we can ensure our diverse range of communities are not left behind.
The Llys Cadwyn scheme is a prime example of the type of project that can prepare Wales for the future. The transformation of the centre of Pontypridd has seen a derelict shopping precinct become a focus for the town, its community and the wider county.
Pontypridd is not one of Wales’s largest cities but a small town in a region with a rich industrial heritage. Llys Cadwyn represents a huge leap in regeneration for small-town Wales and should serve as a pathfinder for valleys and towns across the nation.
But the funding has to be there. Llys Cadwyn was part-funded through the EU’s European Regional Development Fund, and whilst the Shared Prosperity Fund is a start, it cannot compete financially with the EU structural funds.
What Wales can do for you
But it’s not all about what Wales wants, and what Wales gets. We can offer a huge amount to the UK as well.
The failure of the UK government to back the Swansea Bay Tidal Lagoon serves as a prime example of the restrictive Westminster bottleneck through which funding must pass. But, despite such missed opportunities, Wales continues to take a forward-thinking approach to harnessing our talent, our landscape and our culture.
Tourism continues to boom with exciting developments across Wales; significant investment for the future of the UK’s rail network is on the horizon at the Global Centre of Rail Excellence in Powys; high-performing colleges and universities continue to expand; and hubs like Newport’s Celtic Lakes will grow our tech industries and data capacity. All of this will further not just Wales but the fortunes of the UK as a whole.
In 2020, Wales created a detailed plan of action – its Framework for Regional Investment – as a pathway for levelling up. Since then, the world has changed and the framework needs to be updated. So, let’s expand the consultation deeper into communities, consult industry leaders and businesses, and better shape what’s needed.
With a tailored framework and the power to make our own decisions, we can derive best value from the funding we do get and create the strongest voice for Wales.
Wales already has great policies in place like the Wellbeing of Future Generations Act. We should be given the opportunity to prioritise projects that align with these policies, that drive us towards a net-zero economy, and that ultimately deliver the best outcomes for our people.