Part of 1. Questions to the Minister for Economy, Transport and North Wales – in the Senedd at 2:26 pm on 3 March 2021.
I thank Jayne Bryant for her question today and for being so consistent and so passionate in promoting Newport. I think there is great excitement in and around Newport about the city's prospects in the years to come, and we're working to make sure that we work in partnership with the local authority in delivering on some of those hugely ambitious schemes that Jayne has identified. In addition, I can inform Members that Welsh Government is currently developing a potential retail strategy that will address the swift transition towards digital retail and also the immediate impact of coronavirus on our high streets. We'll be working with the Welsh Retail Consortium in developing that strategy, and we'll also be working alongside trade union colleagues in social partnership to ensure that as many people as possible can be retained within the sector, even if it means upskilling or reskilling in order to take on new opportunities.
We've also published the economic resilience and reconstruction mission, and within that mission, there are five beacons. One of those beacons really does address concerns that Jayne Bryant has identified today, the future of the high street. It's that foundation of our economy that needs to be strengthened, and that will be a key beacon in enhancing prospects for town and city centres in the years to come.
The 'town centre first' approach, which has been so strongly embraced by local authorities, businesses and by business improvement districts across Wales will continue, and additional investment has been announced for the Transforming Towns initiative. And then there are also the business development grants that formed part of a previous round of the economic resilience fund and which are proving so important in ensuring that businesses within the retail sector and within hospitality and tourism are able to look to medium and long-term opportunities, not just deal with the here and now. And in the meantime, in the here and now, we've announced, of course, an additional £30 million for that sector-specific fund, which will prove so important to businesses in retail, in hospitality, in leisure and tourism, within Newport and, indeed, across Wales.