I am very much focussing on Newtown as it falls within my constituency. Over the past few years there has been a rapid decline in the number of businesses and in particular, retail shop outlets in Newtown, resulting in a large number of empty retail premises in the town centre. There are many reasons for this decline but in my view the main influences are:
- UK economic climate
- Unsustainable business rates
- Traffic issues
- Increase of the internet and online sales
- Growth of out of town shopping
My key proposals to stimulate economic growth across Powys and Newtown in particular are:
Reduced Business Rates
Abolish business rates for all businesses with a rateable value of under £12,000 per annum and provide tapered relief for small businesses with a rateable value up to £15,000.
Accessible Finance
Increase availability of grants and loans and extend to retail sector which has been previously excluded from the eligibility criteria for finance packages to stimulate retail start ups. Shop fronts grant scheme to be put in place as part of regeneration programme. Consider the establishment of an enterprise Co-operative to make borrowing easier for small to medium size businesses.
Free Parking
Introduce free parking for Powys towns for a maximum of 2 hours, this has already been implemented in other areas of Wales i.e. Wrexham, to increase town centre footfall.
Short Term Lease Agreements
Incentive schemes to encourage landlords to offer short term leases to assist take up of retail premises. Offer start up businesses the opportunity to trial business ideas by encouraging short term renting as a viable business model.
Availability of Small low cost units / workshops
Increase availability of smaller low cost units similar to those at the Lion Works, Pool Road, Newtown and offer incentives for shop displays in town centre for products manufactured.
Important Transport Infrastructure
It is imperative that the Newtown bypass remains on target as this is vital to the economic growth of the town.
Many people and tourists alike are completely avoiding Newtown due to the traffic congestion.
It is also vital to have good access routes off the bypass into the town centre with appropriate signage encouraging tourists in particular to access the town. Urgent attention and solutions required to mitigate the current traffic problems in the short-term.
An hourly train service is another vital service to encourage easier access to the town.
Improved Broadband and Mobile coverage
High speed broadband and improved mobile signal coverage are key priorities for businesses to operate. Rural Mid Wales must be made a priority.
Local Procurement Contracts
Increase number of public tender contracts to local Powys businesses. Priority must be given to local businesses that can demonstrate delivery.
Business Advice and Support
All organisations involved in business support need to collaborate and share information to provide referrals and enable businesses to be aware of varying support available – a one-stop-shop for business.
Improved Planning & Reduced Bureaucracy
Simplify planning regulations and processes.
Improved Training & Apprenticeships
Increase access to training not currently available from existing providers. Increase availability of apprenticeship schemes into additional industries, more collaboration between local businesses and FE providers.