7. Debate on a Member's Legislative Proposal: An employee ownership Bill

Part of the debate – in the Senedd at 5:00 pm on 20 October 2021.

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Photo of Luke Fletcher Luke Fletcher Plaid Cymru 5:00, 20 October 2021

Diolch, Dirprwy Lywydd. I'd like to thank Huw Irranca-Davies for tabling this motion for debate; it was one that I was more than happy to support. Like Huw and Vikki, who also supported this motion, I'm a proud Member of the cross-party group on co-operatives and mutuals. It's fair to say that co-operatives and social partnerships are widely accepted as the best way of ensuring that workers get a stronger voice in the workplace, and that they offer the best route to a more sustainable way of doing businesses. I've talked over the past few weeks about how, unless we change the way we run our economy, unless we are willing to change the way we do business, we can expect to go nowhere in tackling poverty and the climate emergency.

Co-operatives and social partnerships allow us to grow the Welsh economy in a sustainable way. We've seen countless times where we've needed greater support for worker buy-outs. They are familiar scenarios to us all: an owner of a business, for example, who has built that business from the ground up and is looking to cash in by selling, which, of course, is their right, or, of course, a business that might collapse. Either option can lead to a good business disappearing from Wales, and with it the jobs that they created. As Huw has rightly pointed out, worker buy-outs can provide us with a solution that keeps those jobs in Wales and keeps a business growing.