NATIONALIST leader Rhun ap Iorwerth set out a five-point plan tonight to achieve economic and social prosperity for Wales, including new Westminster legislation for fair funding.
Plaid Cymru’s leader demanded the scrapping of the Barnett formula for devolved funding and an economic fairness Bill for Wales to rebalance Britain’s wealth.
“Consign the outdated Barnett Formula to the history books,” he said.
“[This is] not a revolutionary idea — Joel Barnett himself considered it only a temporary solution, yet it remains in place 45 years later.”
Mr ap Iorwerth detailed that Wales had lost over £2 billion of rail investment and the Westminster government’s Levelling Up and Shared Prosperity Fund has lost Wales over £1bn.
“If we are to turn the tide on Wales’ economic performance, we must put new thinking at the heart of the Welsh government’s approach, but any party serious about fair funding for Wales will be pressing for fair funding from Westminster,” Mr ap Iorwerth said.
“The track record of the Conservative UK government is they haven’t, and they won’t, but we’ve heard nothing from Sir Keir Starmer to suggest that a Labour government would either.”
Mr ap Iorwerth also wanted the Senedd to have greater powers over taxation, similar to those given to the Scottish Parliament to set its own tax bands and rates.
“Believing in the redistribution of wealth and a supportive state while simultaneously advocating for successful enterprise is not an either/or,” he said.
Plaid’s leader attacked the two candidates to become first minister, saying: “The leadership election is riddled with doublespeak where followers would be forgiven for thinking that the Education Minister Jeremy Miles wasn’t responsible for education and that Vaughan Gething had never been responsible for health.”
He also said that falling political participation rates through party membership, or campaigning, coupled with social media has eroded the importance of much beyond the here and now.
Mr ap Iorwerth claimed the potential of the devolution dividend has not been realised in full and the persistent high levels of poverty and low wages undermined the country.
“While culturally a new sense of nationhood has developed, there remains a persistent underperformance on many metrics, including economic underperformance,” Mr ap Iorwerth said.
“Never again should Wales be sold as a low-wage investment destination.”
