8. What assessment has the Cabinet Secretary made of the impact that co-operatives have on the Welsh economy? OAQ52279

The 'Mapping the Social Business Sector in Wales' report notes that the sector is now worth an incredible £2.37 billion to Wales and provides jobs and volunteering opportunities to around 100,000 people. I’m sure you would agree that the sector in Wales makes a huge contribution, not just to our economy but to society as a whole.

Cabinet Secretary, I note from the Wales Co-operative Centre's last annual report that they helped develop four housing co-operative schemes, and I really believe that this is a sector that needs further development. Now, we know that shared ownership harnesses innovation, and innovation accounts for 70 per cent of long-term economic growth in the UK, and I do think the use of co-operatives in this area would give many people a new housing model based on rentals. Moreover, they could be using smaller plots of land, using SME companies, driving up skills levels and jobs for local people. It does seem to me an area rich for growth and potential innovation. 

I couldn't agree more with the Member, and I'm sure that my colleague the Minister for Housing and Regeneration would firmly agree as well. I think the innovative housing programme that the Minister has already detailed provides a huge opportunity for social enterprise to participate more in the building of new homes and also in the regeneration of communities as a whole through making use of properties that are currently empty. I think that, in particular, within urban landscapes—towns and especially high streets—there's a huge opportunity to develop new housing within those environments in order to drive prosperity levels within towns.

Thank you, Cabinet Secretary.