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PRESS RELEASE : Pay rise and new contract for GPs in Wales [October 2022]

The press release issued by the Welsh Government on 28 October 2022.

Health Minister, Eluned Morgan, has announced a new contract agreement with GPs in Wales, which will deliver the most significant reform of the contract since 2004.

It includes a new pay deal for all staff working in general practice and plans to reduce the administrative burden for GPs, enabling them to focus on providing high-quality care in contract arrangements from 2023.

Recognising the vital role of GPs and their teams, the agreement for this year includes a 4.5% pay uplift for GPs as recommended by the Doctors and Dentist Review Body, and goes further to ensure all staff working within general practice also receive the same 4.5% pay uplift.

From April 2023, access standards, which practices have been working towards since 2019, will become mandatory to achieve and maintain as part of the GMS contract. This will help make it easier for people to access GP appointments across Wales and they will know what to expect when they contact their GP practice.

The new Unified Contract, will be consulted on in spring 2023 and implemented from autumn 2023. This will streamline and simplify current arrangements to ensure GPs and their teams are able to focus on delivering services to patients.

Welsh Government, GPC Wales and NHS Wales have committed to undertake further joint work, to pursue further changes and improvements in a number of key areas including the sustainability of the workforce and the service.

Health Minister Eluned Morgan said:

GPs and their staff have worked tirelessly in the face of ongoing pressure, to meet the needs of their patients. They have remained agile and responsive in these challenging times, and this agreement and investment acknowledges that commitment to delivering services to patients.

We recognise that more still needs to be done to improve access to GP surgeries and this new contract will go some way in addressing that. However, there have continued to be challenges faced by some people in accessing their GP practice which need to be resolved and we will ensure we continue to pursue improvement.

As we move forward, a new simplified and streamlined contract will not only remove unnecessary bureaucracy for GPs and their teams but will also reinforce the standards by which we expect GP practices to operate – with patient access an integral part of those standards.

In April next year, I will set out more detail on how this new contract will work.

Nicola Prygodzicz, Chief Executive, Aneurin Bevan Health Board said:

We are pleased to see this agreement, reached through a collaborative round of tripartite negotiations, which recognises the hard work and dedication of all staff working within general practice.

The scale of change being sought is ambitious and is testament to the commitment of all parties to reduce bureaucracy and improve services for people in Wales. The wider agreements, including the joint commitments to take forward work in key areas, will enable us to continue to work closely with the profession and our stakeholders to support the sustainability of the service in the longer term.

Dr Gareth Oelmann, Chair of GPC Wales said:

This contractual agreement is firmly rooted in providing patients with access to services based on clinical need, with an increased emphasis on preventative health measures.

We have fought hard to ensure the best deal possible for GP practices in Wales in the current climate. The restructured contractual payment mechanisms, whilst providing simplification and decreased box ticking bureaucracy, will create security of income streams for practices, at a time when the viability of many has been brought into question.

We are additionally pleased that as a consequence of this deal, our hard-working practice staff are able to receive a pay uplift.

We look forward to delivering further change and improvements for GPs and patients in Wales in 2023.

October 30, 2022
PRESS RELEASE : Welsh Minister looks forward to ‘bright industrial future’ for site set to home new global rail centre [October 2022]
The press release issued by the Welsh Government on 28 October 2022.

The Global Centre of Rail Excellence (GCRE) has reached a major milestone with the formal acquisition of the former Nant Helen opencast site and Onllwyn Washery in South Wales from opencast mining company Celtic Energy, Economy Minister, Vaughan Gething announced today.
- Minister for the Economy confirms the acquisition of land allowing contractors to prepare for construction of UK’s first Net Zero Railway
- The site will become the UK’s ‘one stop shop’ for railway innovation
- The first phase of the masterplan construction is expected to be completed by the middle of 2025.
The 700 hectare site at the head of the Dulais Valley in south Wales will now be transformed and developed to become the UK’s ‘one stop shop’ for railway innovation, from research and development, through testing, verification and certification, to applied innovation on mainline passenger and freight railways.

Outline planning consent for GCRE was granted by Neath Port Talbot Council and Powys County Council in 2021.

A range of consultants and contractors including Hirwaun-based Walters Group, Atkins, Fifth Studio, Arcadis and Mott MacDonald are now working in an alliance to design the site and begin preparation for construction in early 2023.

GCRE is split in to three core phases:
- Phase 1: The provision of sidings for rolling stock from the summer of 2023
- Phase 2: The building of two electrified test loops, one high speed test loop 6.9km long and a 4km Infrastructure test loop, together with supporting infrastructure and buildings from 2024
- Phase 3: The addition of expanded stabling, maintenance, and commissioning facilities along with research facilities, hotel, and business park in 2025 and ongoing.
Visiting the site of the £250 million infrastructure project, Minister for Economy, Vaughan Gething, reiterated the significance of the GCRE project:

The Global Centre of Rail Excellence being constructed here in Wales is one of the most critical and creative infrastructure projects happening anywhere in Europe.

Its significance to the local community and the Welsh economy should not be underestimated. This is a vital regeneration project which will create much-needed jobs and skills. I’m confident it will support a bright industrial future for the Dulais Valley and the surrounding area.

Deputy Minister for Climate Change, Lee Waters, reiterated the significance of the GCRE project:

GCRE will be a unique facility offering world class testing of infrastructure, rolling stock and new technologies that will fill a much-needed gap in the rail industry. Crucially, it will help manage the cost of rail projects by testing ideas earlier before their deployment on projects and support the vital innovation we need to get to Net Zero.

The formal acquisition of the land now paves the way for the start of construction by allowing GCRE and their contractors to take control of the site and begin to establish the infrastructure required to turn this ambitious and exciting vision into reality.

Chief Executive of GCRE, Simon Jones said:

We are moving at pace to deliver on our ambitious plans to deliver a modern and comprehensive rail testing and innovation facility, building our team and preparing for construction with the aim of having our commercial rolling stock storage facility available to the market within the next 12 months.

The next stage of our procurement process will begin shortly with both a meet the buyer event and the launch of a separate innovation competition next week to give potential suppliers and partners the opportunity to find out more about how they can get involved. This will be followed by the launch of an exciting investment prospectus to attract private funding for the project. With the support of the Welsh and UK Governments and Powys and Neath Port Talbot local authorities, we really are on a mission to put Wales and the UK at the very heart of 21st century sustainable transport innovation.
October 30, 2022
PRESS RELEASE : Next three year plan launched to transform pharmacy in Wales [October 2022]
The press release issued by the Welsh Government on 27 October 2022.

Updated goals for the pharmacy profession have been published today, as the transformation of pharmaceutical care in Wales continues.

The Welsh Pharmaceutical Committee’s vision for pharmacy, Pharmacy: Delivering a Healthier Wales, was first published in 2019. Developed by the pharmacy profession, the 10-year plan aims to provide a clear direction for pharmacy professionals in every part of the NHS, focusing on meeting patients’ and the NHS’s needs now and in the future.

The new goals refresh expectations of what the pharmacy profession can achieve in the three years to December 2025, including:
- undertaking a comprehensive review of how the skills and expertise of pharmacists and pharmacy technicians can be more effectively used to support hospital patients
- reviewing how automation, electronic prescribing and pharmacogenomics can help transform the way pharmacy professionals deliver care
- exploring how supporting research and development in pharmacy practice can provide a platform for further innovation in the delivery of pharmaceutical care.
Eluned Morgan, the Minister for Health and Social Services, welcomed the new goals, saying:

Earlier this year we introduced the most significant reform of the way community pharmacies provide services since the NHS was created more than 70 years ago.

A great deal has already been achieved towards our vision, with community pharmacy teams now consistently using their expertise to support patients and our health and care services.

As the pharmacy profession embarks on the next phase of its journey, I am looking forward to seeing how the role of pharmacy professionals in other sectors can be transformed to achieve even more in the coming years.

Andrew Evans, the Chief Pharmaceutical Officer for Wales, said:

Pharmacy: Delivering a Healthier Wales provided a clear direction for the development of pharmaceutical care in Wales. The transformation of the role of community pharmacies has helped us meet the unprecedented challenges we face as a result of the last two years.

Good progress has been made in delivering our aspirations in all sectors of pharmacy practice. The refreshed goals provide the basis for supporting and developing the role of pharmacy professionals who work in our hospitals and in community care, to ensure they can continue to meet the changing needs of patients and are empowered to respond to the challenges faced by the NHS.

Our ambitious new goals build on the work we are already doing to implement ePrescribing in secondary and primary care, increasing the use of digital technology and pharmacogenomics. We also want to ensure the profession meets its obligations to be more socially responsible, tackling inequalities in health, supporting environmental sustainability and promoting the use of the Welsh language.

Elen Jones, Director of the Royal Pharmaceutical Society Wales, said:

The 2025 goals continue to drive our aspirations for pharmacy in Wales, breaking down boundaries between care settings and developing the workforce to ensure patients benefit from the expertise of the pharmacy team wherever and whenever they need it.

The RPS has been proud to be a part of these developments. Putting plans into action across Wales is the next important step and we look forward to working with colleagues in supporting this important agenda over the next three years and beyond.

Jonathan Simms, Chair of the Welsh Pharmaceutical Committee, said:

Today marks an important step in our journey towards our 2030 vision for pharmacy in Wales. The goals set the ambition of how pharmacists, pharmacy technicians and our support staff, across all care settings, will enhance patient care and improve medicine optimisation for the citizens of Wales.

So much has been achieved since the publication of Pharmacy: Delivering a Healthier Wales, particularly through the pandemic where teams needed to adapt to maintain vital services to patients. The new goals recognise the challenges that the workforce currently face as we recover from the pandemic. With this comes opportunities to deliver new roles, embed new skills and drive the use of technology to make Wales a vibrant place to work whilst delivering excellent pharmaceutical care.
October 30, 2022
PRESS RELEASE : Delivering a Healthier Wales 2025 Goals [October 2022]
The press release issued by the Welsh Government on 27 October 2022.

Eluned Morgan, Minister for Health and Social Services.

The 10-year pharmacy plan, Pharmacy: Delivering a Healthier Wales, was published in 2019 and sets out how services need to be transformed and how the workforce needs to develop to meet the needs of people in Wales.

The Royal Pharmaceutical Society has been reviewing the significant progress made against the 15 goals set for 2022 and has been engaging with pharmacy professionals to refresh the vision and to set new goals for the next three years.

The new goals, which are published today, set the expectations for what more can be achieved collectively by 2025. These goals are ambitious, people-focused and designed to harness the contribution of the entire pharmacy team, in all care settings.

We continue to work towards the original aspirations set out in Pharmacy: Delivering a Healthier Wales:
- To enhance patient experience,
- To develop the workforce,
- To deliver seamless pharmaceutical care; and
- To harness the benefits of innovation and technology in pursuit of our aims.
Excellent progress has been made to deliver these aspirations in all sectors of pharmacy practice. Since the introduction our new community pharmacy contractual arrangements, which were described in Presgripsiwn Newydd last year, we are ensuring community pharmacies consistently provide the widest range of clinical services people and the NHS in Wales need.

Approximately one in five community pharmacies are now providing our national pharmacist independent prescribing service, which offers prompt access to treatment for a range of conditions and to regular contraception. We are working to increase this so the service is available in one in three pharmacies by the end of March.

Pharmacy professionals play an essential role in our hospitals and GP practices and we have recently commissioned the Royal Pharmaceutical Society to review how the clinical skills of pharmacists, pharmacist prescribers and the wider pharmacy workforce can be used effectively in hospital settings to improve people’s health outcomes.

The new goals mean that by 2025, pharmacy teams will feel empowered to make every patient contact count, building on strengths of community pharmacies as community assets, as sources of both social capital and convenient access to the services people need.

By continuing to increase the capability and skill within pharmacy teams we will also ensure people have consistent access to highly trained and motivated members of the pharmacy workforce.

Optimising the knowledge and skills of pharmacy professionals as medicines’ experts, we will ensure they are integral in supporting people as they transition between different parts of the health and social care service.

Increasing use of automation will increase the capacity for pharmacy professionals to deliver outstanding care, and using the NHS app, pharmacy teams will work with patients who are empowered to take greater control of their health and medicines.

A great deal has already been achieved. As we embark on the next phase of the journey, pharmacy professionals will achieve even more in the next three years. I am therefore delighted to endorse the pharmacy profession’s refreshed plans.
October 30, 2022
Jane Hutt – 2022 Statement on Ukraine

The statement made by Jane Hutt, the Minister for Social Justice in the Welsh Government, on 25 October 2022.

Diolch yn fawr, Llywydd. Thank you for providing an opportunity for me to give an update to Members about our ongoing work to support people from Ukraine seeking sanctuary in Wales. When I last updated you in September, Wales had welcomed just over 5,600 Ukrainians in Wales under the Homes for Ukraine scheme, including under our supersponsor route.

Arrivals have continued, but at a much slower pace in recent weeks. Just under 6,000 Ukrainians sponsored by the Welsh Government and Welsh households had arrived in Wales by 18 October, and there have been additional arrivals under the Ukraine family scheme, but we are not given that data by the UK Government. More than 8,300 visas have now been granted to people from the Ukraine who have sponsors in Wales, so we can expect the number of arrivals to continue to grow steadily in the coming weeks, and we are mindful that events in Ukraine can have a direct impact on the number of Ukrainians who may arrive in Wales. We deplore the latest attempts by Putin to try to break the will of the Ukrainian people. We are continuing to work with the Home Office to ascertain the likelihood of the additional 1,600 individuals we have sponsored arriving in Wales, so that we can properly plan for providing accommodation and wraparound support.

In recent weeks, we have been considering the offer that we make to Ukrainians who we support in our accommodation under the supersponsor route. I and other Ministerial colleagues have visited many of our accommodation sites and received feedback directly from Ukrainian guests and the dedicated staff who are helping us to provide assistance. We want to help people to transition from a supportive welcome to active integration as quickly as possible.

We believe that we can enhance personal independence and support people to move on to the next stage of their lives in Wales by revisiting our wraparound support offer. We will be aligning our initial accommodation offer much more closely to the support that would be received in other forms of temporary accommodation, and this will encourage guests to contribute to costs via earnings or universal credit wherever possible, after an initial short period. I have also engaged with my Scottish Government counterpart, Minister Neil Gray MSP, and I understand that they will be taking a very similar approach, as we learn from each others’ experiences in our response as supersponsors.

Our supersponsor route is a key part of Wales’s response to the Europe-wide humanitarian crisis. We must ensure that we are steadfast in our commitment to supporting Ukraine and displaced Ukrainians living in Wales, despite the increased cost pressures we’re all experiencing. The support we provide here will have an impact on the family and friends still defending Ukraine. The changes we make will carefully balance helping people to be more independent, to move on to alternative accommodation more quickly, and to ensure that we have the finances we need to fulfil our commitment to the Ukrainians we have sponsored.

As well as my visits to welcome centres, I recently attended the Ukraine arts festival and the new Cardiff Ukraine centre. In each case, I have been struck by the desire and ability of Ukrainians, with a wide range of skills and experience, to integrate and join the workforce as quickly as possible. Many Ukrainians are already working, including a sizable proportion of those in our initial accommodation.

We need to be conscious that initial accommodation should be a short-term provision, with our guests supported to move on to longer term accommodation as soon as practicable. We understand that our welcome centres, which are funded by the Welsh Government, are of a good quality—and we are proud of that—but they are not a long-term option for people, not least because roots cannot be properly established in communities in such temporary accommodation.

Last time I updated you, I remarked upon the good working relationship we had with the previous UK Minister for Refugees, Lord Harrington, and my hopes for a similar relationship with his successor. I am sorry to have to report that we have had no engagement from UK Ministers on these issues since Lord Harrington’s resignation.

But we are at a critical juncture in the UK Government Homes for Ukraine scheme. Welsh households who signed up as sponsors are at, or near, the six-month hosting milestone that represents the commitment they made to their guests at the point of application. These households have done an inspiring thing and embodied the nation of sanctuary vision in its truest sense. We know many did not plan to continue beyond six months, but we urge as many hosts as possible to consider hosting for a longer period if at all possible. Where that isn’t possible, we thank you for everything you have done for your guests and for us as a nation. For those that can continue, we have funded Housing Justice Cymru to provide advice, training, peer support and mediation services for hosts in Wales. More information can be found by calling 01654 550 550 or emailing UkraineHostSupport@housingjustice.org.uk.

We know that hosts in Wales are struggling with cost-of-living pressures, and this is a major factor in deciding if they can continue. This is why I wrote to UK Ministers, with my Scottish ministerial counterpart, to urge a quick decision on increasing the ‘thank you’ host payment to at least £500 per month from the current level of £350. We are still waiting for an update on this. We do need an urgent decision to avert a wave of homelessness presentations as we move into November, and I again call upon the UK Government to act on this, as well as providing financial certainty for year 2 of the programme, supporting the unfunded ESOL provision and ensuring funding parity across the three Ukraine visa schemes.

We are now communicating regularly with hosts and Ukrainian guests, with a monthly newsletter being sent from the Welsh Government, and we’ll build upon this with additional information sessions and participation opportunities. Alongside our funded third sector partners, we recently held an open information session, which I was glad to see around 180 people attended to hear more about our work; we are mobilising a Ukraine peer support group through Displaced People in Action; and we’ll also soon survey our Ukrainian guests to better understand their unmet skills and employment needs. Ukrainians are clearly integrating very well indeed, but we will continue to consider any action we can take to make this as effective and supportive as possible. Diolch.

October 30, 2022
PRESS RELEASE : Wales announces publicly-owned renewable energy developer [October 2022]

The press release issued by the Welsh Government on 25 October 2022.

The Minister for Climate Change, Julie James, has today announced a state-owned energy developer in response to energy insecurity, the cost-of-living crisis and the increasing threats posed by the climate and nature emergencies.

Speaking in the Senedd this afternoon, the Minister said energy profits created in Wales will deliver greater benefit for people in Wales.

Surplus funds generated through the new developer will go back into the public purse to be reinvested in improving energy efficiency in homes in Wales and creating good quality, home grown, clean energy jobs.

Delivering on aims to have more than one gigawatt of locally-owned generation by 2030, the new state-owned energy developer will scale up renewable energy rollout, initially through the development of onshore wind projects on the Welsh Government woodland estate.

Like elsewhere in the UK, some renewable energy projects on the Welsh Government woodland estate have been developed by state-owned energy developers, meaning profits go back to their respective countries.

The Minister said:

We want to harvest our wind and use it to produce power that directly benefits people in Wales.

We will set up a publicly-owned renewable energy developer. This is a long-term sustainable investment that puts net zero and the communities of Wales at the heart of the transition we need.

We are in a climate emergency and our approach is in stark contrast to the UK Government that is focusing on fracking and fossil fuels – opposed by most communities and incompatible with our international obligations.

With soaring living costs and an ongoing lack of certainty around energy supply, the Minister said the current UK market was “bad for bill payers.

The focus of Wales’ energy policy is securing a reliable and diverse energy mix that delivers local benefit.

Minister for Climate Change Julie James added:

This is an historic moment for Wales. The cost-of-living crisis is directly related to the major increase in the cost of energy, which strengthens the need for an approach that returns more to the people of Wales.

If other countries are anything to go by, then we should expect considerable returns from our investment and – as we share the ambitions of these other nations – we have a genuine opportunity to produce an income that will really help us to deliver here.

We are taking positive action to ensure we deliver on our net zero commitments in ways that benefit our communities.

October 30, 2022
Dawn Bowden – 2022 Statement on Her Visit to New Zealand

The statement made by Dawn Bowden, the Deputy Minister for Arts and Sport, and Chief Whip, in the Welsh Government on 25 October 2022.

I have recently returned from New Zealand in my role as Deputy Minister for Arts and Sport.

The primary focus of my visit was to support the Wales women’s rugby team as they took on the hosts and current world champions, the Black Ferns, in their group match of the Women’s Rugby World Cup on Sunday 16 October.

My visit helped raise the profile of Wales, both within the rugby community and beyond. Ahead of the game it was an honour to meet the playing squad and WRU staff to discuss the progress they have made over the past two years, whilst recognising there are opportunities for further investment and development in the women’s game.

In the days leading up to the game, I had a full schedule of visits, meetings and events where shared experiences of sport, culture and heritage were explored.

My first meeting was with the Māori Language Commission in Wellington to discuss shared pathways to the revitalisation for indigenous languages. I then met Peter Miskimmin, Sports Diplomacy Manager and former CEO of Sport New Zealand. We discussed sport diplomacy, inclusion and collaboration, and the economic and social benefits, in particular for smaller nations. The final meeting of my first day was with the High Commissioner at the British Consulate in New Zealand, Iona Thomas.

On my second day in New Zealand, I had an opportunity to discuss the development of the women’s game with Traci Houpapa, professional director at Women in Rugby Aotearoa. This was followed by a meeting with Waikato University senior deputy Vice-Chancellor, Professor Alister Jones to discuss the academic links between our two countries.

I later met representatives of Healthy Active Learning and Active Me – Kia Tu. These are two programmes run by Sport New Zealand aiming to improve the quality of physical activity experiences of young people to promote wellbeing and support disadvantaged children into physical activity.

I also had constructive meetings with Raelene Castle, CEO of Sport New Zealand, Rachel Froggatt and Raewyn Lovett, Secretary-General and Co-Chair respectfully of the International Working Group on Women in Sport. I had bilateral with Priyanca Radhakrishnan MP, Minister for Diversity, Inclusion and Ethnic Communities to discuss how our respective governments are seeking to address many of the challenging issues facing both nations.

I travelled to Queenstown to visit Skyline Enterprises Ltd and the Shotover Jet – two adventure tourism attractions to see how Queenstown has used the natural landscape as a beautiful backdrop to successful enterprises.

We are in discussion to bring an adventure tourism attraction from New Zealand to Wales and it was valuable for me to see first-hand one of its main attractions whilst also discussing the many parallels with our work in Wales in particular managing environmental obligations and incorporating native language as part of their strategies.

This visit – at a time when the Welsh team is performing on the world sporting stage – is an excellent opportunity to demonstrate that Wales is an outward looking nation, open for business and determined to maintain existing relationships and explore new avenues to strengthen the special friendship that exists between Wales and New Zealand.

October 30, 2022
PRESS RELEASE : New era of austerity threatens jobs, businesses and public services – Welsh Finance Minister [October 2022]

The press release issued by the Welsh Government on 25 October 2022.

Wales is facing a new era of damaging austerity cuts because of the UK Government’s mismanagement of the economy, Finance Minister Rebecca Evans will warn today.

The combination of soaring inflation which is eroding the Welsh Government’s budget, and spending cuts threatened by the latest Chancellor of the Exchequer, could starve public services of funding, stifle economic growth and lead to job losses.

Inflation and the UK Government’s mishandling of the economy, means Welsh Government’s budget is now worth up to £4bn less in real terms than it was when the three-year funding settlement was set last year.

The Chancellor of the Exchequer has said all UK Government departments must redouble efforts to find savings and warned some areas of spending will be cut to fill the hole created in UK public finances by the fallout from the mini-budget a month ago.

This could mean more cuts in funding for the Welsh Government, as it prepares its draft Budget, which is set to be published on 13 December. The Chancellor is due to produce his medium-term fiscal plan on 31 October.

Speaking at a Welsh Government press conference later today, the Finance Minister will warn against another round of destructive austerity and outline alternative options the Chancellor could take to boost growth and support public services.

Rebecca Evans, Minister for Finance and Local Government, said:

By announcing reckless uncosted tax cuts for the rich, the UK Government lost control of the economy. Now the new Chancellor wants us all to pay for its failures with deep spending cuts.

We are facing a new damaging era of austerity, which would threaten jobs, businesses and public services.

The Chancellor could protect public services by using his tax levers more fairly and increase investment to get the economy moving in the right direction. He could help people pay their bills by increasing benefits in line with inflation.

As we look ahead to our Budget, we need the UK Government to take action to avoid the type of destructive austerity that will further damage our economy and the public services so many of us rely on.

October 30, 2022
Rebecca Evans – 2022 Comments on Impacts of Austerity on Wales

The comments made by Rebecca Evans, the Welsh Minister for Finance and Local Government, on 25 October 2022.

By announcing reckless uncosted tax cuts for the rich, the UK Government lost control of the economy. Now the new Chancellor wants us all to pay for its failures with deep spending cuts.

We are facing a new damaging era of austerity, which would threaten jobs, businesses and public services.

The Chancellor could protect public services by using his tax levers more fairly and increase investment to get the economy moving in the right direction. He could help people pay their bills by increasing benefits in line with inflation.

As we look ahead to our Budget, we need the UK Government to take action to avoid the type of destructive austerity that will further damage our economy and the public services so many of us rely on.

October 30, 2022
PRESS RELEASE : Development Bank of Wales to offer Net Zero incentive [October 2022]

The press release issued by the Welsh Government on 25 October 2022.

A new initiative designed to help businesses lower their carbon impact and save on energy bills will be accelerated and launched in the new year, Economy Minister Vaughan Gething has announced.

The Minister has asked the Development Bank of Wales to fast track its plans for an invest to save decarbonisation offer with more favourable terms for businesses looking at investing in renewables and energy efficiency measures.

Accelerating the introduction of the offer will allow businesses across Wales to take earlier action to invest in projects designed to reduce their energy consumption and better manage energy bills. This will provide much needed respite amid the spiralling cost of business and help deliver on the Welsh Government’s commitment to deliver a greener economy.

Speaking on the fifth anniversary of the Development Bank of Wales’ launch – the UK’s first regional development bank – Economy Minister Vaughan Gething said:

The Development Bank of Wales has become a national asset supporting businesses across Wales, improving their resilience and helping them grow and prosper.

Over its first five years the bank has exceeded investment targets, delivering an economic impact of £1.2 billion.

It is clear from my discussions with businesses that we must prioritise the job of reducing energy consumption and lowering bills for the long term. I have now asked the Development Bank to fast-track development of a new scheme supporting business transition to Net Zero on an ‘invest to save’ principle. This will allow businesses to take on borrowing to fund capital investment which delivers on decarbonisation through more flexible repayment terms, attractive interest rates and wider support such as help towards consultancy costs.

This is a win win scheme – making it cheaper and easier for eligible businesses to cut future energy costs and boost our shared ambition for a greener Wales.

The Minister is also tasking the Development Bank with pursuing an ambitious equity investment target of £100 million over the next five to seven years.

The Minister added:

This investment, alongside private sector co-investment, has the potential to deliver over £250 million of capital to innovative businesses – a much needed injection of capital that will help create new jobs, expand growth sectors and help position Wales for a more prosperous future.

In the face of enormous challenges, the Welsh Government is determined to use its levers to provide stability with practical help for businesses and workers in a long partnership for a stronger, fairer, greener Wales.

Giles Thorley, Chief Executive of the Development Bank of Wales, said:

As businesses find themselves faced with economic uncertainties – including greatly increased energy costs – it is more important than ever that we fulfil our role providing stability for the Welsh economy, and do all we can to support ambitious businesses looking to invest in their journey to Net Zero.

We firmly believe that investing in environmental sustainability is both the right thing to do and makes good business sense, helping companies become more resilient, competitive and attractive to customers and talent. Having already launched the Green Homes Incentive to support property developers, we are now accelerating our programme of decarbonisation support to meet these pressing needs, making sure that Wales remains a great place to do business.

This marks the fifth anniversary for the Development Bank of Wales. Whilst I’m very proud of our delivery and impact so far as well as the strong relationships we’ve built with Welsh businesses and stakeholders, I also look forward to continuing to drive growth in the Welsh economy. Our track record as one of the most active venture capital investors in the UK and our links to private sector co-investors makes us well placed to deliver the equity capital that Wales needs.

October 30, 2022