The Economic Resilience Fund

Part of 1. Questions to the Minister for Economy – in the Senedd at 1:42 pm on 19 January 2022.

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Photo of Vaughan Gething Vaughan Gething Labour 1:42, 19 January 2022

I think every business sector is looking to gain the greatest amount possible to support their business, and you understand exactly why they would do. When you think about the support that we've provided through the economic resilience fund, through the non-domestic rates-related support—and again, a scheme that is more generous than England—and also through the cultural recovery fund that supports a range of people in the events sector, I think, actually, you can see that we're doing everything we could and should do within the resources available to us to properly support businesses. 

Now, I don't think it's helpful to say that people are not being honest about the impact on their operations. What we're looking to do with the support we are providing is to try to make sure that businesses can survive and to support them into the recovery, and a recovery that is taking place at a more rapid pace in Wales because of the action that we took. And if you want to see the evidence for that in the public health issue, you can see that in the differential in the hospitalisation rates, and you can also see that in current case rates today, where they're nearly double in England what they are in Wales. That means we're less likely to have the direct impact those businesses also face when people aren't able to come to work because of COVID and, indeed, their customers who aren't able to come in because of COVID as well. The balance in our approach I think is the right one, and I'm confident that, in time, the further data we expect to get will prove that to be the case.