The Pembrokeshire Economy

1. Questions to the Minister for Economy and Transport and North Wales – in the Senedd on 7 October 2020.

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Photo of Paul Davies Paul Davies Conservative

(Translated)

8. What is the Welsh Government doing to support the Pembrokeshire economy for the next 12 months? OQ55633

Photo of Ken Skates Ken Skates Labour 2:28, 7 October 2020

Everything possible. We have already awarded £9.5 million through the first two phases of the economic resilience fund, and a further £5.4 million through the Development Bank of Wales. That's gone to more than 700 businesses in Pembrokeshire.

Photo of Paul Davies Paul Davies Conservative

Thank you for that response, Minister. Now, I recently visited Nolton Stables, an accommodation provider and countryside riding facility in my constituency, which is one of many small tourism businesses that are in a very challenging financial position because of the COVID-19 pandemic. In response to the pandemic, the owners have also diversified their business to include a drive-in cinema as a way of helping keep the business afloat during this difficult time. Minister, could you tell us what the Welsh Government is doing to specifically help businesses diversify and remain competitive in the wake of the COVID-19 pandemic?

Photo of Ken Skates Ken Skates Labour 2:29, 7 October 2020

It sounds a really innovative scheme that that business has developed. I know that cinemas all across the UK are struggling, but hopefully in the case the Member has identified they'll be very successful. The whole purpose of the third phase of the economic resilience fund is to provide support through short periods of restrictions—but also through the business development grant to help businesses adjust and adapt to coronavirus and to Brexit. So, those business development grants are going to be awarded to businesses that have plans for survival and also plans to thrive after coronavirus, and to adapt. Those grants could be very significant indeed: £10,000 for small and microbusinesses, then grants of up to £150,000 for medium-sized enterprises, and £200,000 for larger employers—all designed to assist businesses in adapting to coronavirus and to the new reality that we now face.