Alliance MBS academics have called for a radical rethink of regional and industry policy in Wales.
A report from the Centre for Research on Socio-Cultural Change (CRESC), entitled ‘What Wales Could Be’, has already made a major impact in political circles since it was officially launched in early October.
The report, written for the Federation of Small Businesses Wales, critically reviews existing Welsh government policies and recommends radical alternatives. For instance, it says there is a need to redirect policy away from encouraging inward investment by mobile firms towards supporting grounded firms which are either SMEs or large private and public organisations.
Report co-author Professor Karel Williams said: “In this report we have posed the question of where is Wales after nearly 20 years of devolution. Our answer is that devolution has not so far delivered the necessary reinvention. Wales is not in a good place partly because it is mired in confusion about the objectives and instruments of economic policy. Our message of hope is that Wales has real possibilities of doing policy differently and getting to a better place through reinvention.”
Professor Karel Williams also commented to the BBC on the report for the FSB on Welsh economic policy >>