5. Statement by the Minister for Economy: Economic Priorities and UK Government Relations

Part of the debate – in the Senedd at 4:27 pm on 17 January 2023.

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Photo of Vaughan Gething Vaughan Gething Labour 4:27, 17 January 2023

I should perhaps note in response that I am also a member of the Co-operative Party. However, in answering the points by the Member, I think it's fair to say this: employee ownership enjoys an important status in the Welsh Government, with a clear programme for government commitment linking our progress to its growth. We believe that the growth of employee-owned businesses will contribute to a stronger, fairer Welsh economy, because they have sustainable development built into their DNA. Despite the rapid growth in the number of employee-owned businesses in recent years, I recognise the ongoing need to celebrate the role that they play. The social partnership and public procurement Bill will contribute to well-being by improving public services through social partnership working, socially responsible public procurement and promoting fair work. We'll now explore ways in which the guidance around the Bill might usefully reference employee-owned businesses. 

Whilst the social partnership and public procurement Bill is not the right vehicle to legislate on employee ownership, I will, of course, work positively with a strong future MS legislative proposal regarding employee ownership. Whilst I can't guarantee that legislation would follow, our commitment to the policy agenda means that we would certainly work with such a proposal. As with our foundational economy approach, and many other ambitious agendas in our programme for government, we believe that progress will be made without legislation, and that is why I do not see a proposal as necessary for action. I'm grateful for the discussions that I and the Deputy Minister for Social Partnership have had with Huw Irranca-Davies to date. We'll now take the opportunity to engage upon how the statutory and non-statutory guidance on procurement and fair work may help to promote the principles of employee ownership within the framework provided by the Bill and in our wider policy.