The Cabinet Secretary for Economy has announced the next stage of the Economic Action Plan (EAP) introducing the Economic Contract, Call to Action and Economic Futures Fund. The plan seeks to grow our economy and has been developed to meet the needs of today and to prepare for the challenges and opportunities of the future.
The Economic Contract is the framework for a new relationship with businesses looking to access finance, requiring businesses to demonstrate their commitment to growth, fair work, employee health and skills and reducing their carbon footprint, reflecting the kind of business behaviours that many successful and responsible businesses exhibit.
Call to Action
Designed to help businesses prepare for the future and adapt to the challenges they may bring. For Wales, these Calls to Action are designed to enable more inclusive economic growth by promoting regional strengths and tackling structural challenges.
- innovation, entrepreneurship and headquarters
- exports and Trade
- high quality employment, skills development and fair work
- R&D, automation and digitalisation
Economic Futures Fund
The Welsh Government are introducing a streamlined finance package bringing together existing finance schemes into a consistent approach, simplifying the process for businesses and allowing Welsh Government to be flexible in how it uses the resources it has to meet business need, and deliver against the points highlighted in the Economic Contract and the Calls to Action.
For further information on the EAP contact the Business Wales Helpline on 03000 6 03000.
You can view the strategy on the Welsh Government website