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Praise for Powys Pound initiative

Created on 01/10/2019 @ 20:50
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Powys County Council (PCC) has been praised for its willingness to try and give work to local firms.

Sophie Howe, the future generations commissioner for Wales, has pointed to the “Powys Pound” initiative as one of the few examples of local authorities changing their policies to try and boost the local economy.

This comes as part of Ms Howe’s call to public bodies in Wales to take bolder steps towards A Prosperous Wales by:

·      Driving practices which create decent work opportunities

·      Develop a skilled multi-disciplinary workforce that can respond to future technological change

·      Using the Sirolli Institute approach to deliver person-centred community and economic development

Ms Howe said: “One of the unique features of the Well-being of Future Generations Act is our definition of prosperity.

“It does not measure well-being in traditional ways such as how much money we earn, how much we contribute towards the economy or the value of our goods and services.

“It makes no reference to our Gross Domestic Product (GDP) or Gross Value Added (GVA).

“Our approach is to measure what matters such as a skilled workforce, clean air, how we access public transport, and supporting sustainable local economies.

“The legislation calls on public bodies to contribute towards ‘an innovative, productive and low carbon society”.

“Public bodies spend £6 billion per year delivering services and this is an area where changes can be made that contribute to generating apprenticeships, lower carbon emissions, buying from local business and building in health considerations.

“We must procure goods and services that contribute to global well-being, reduces carbon emissions and supports a circular economy.

“I welcome the approaches taken by Monmouthshire, Powys councils and Amgueddfa Cymru who have reformed their procurement processes in order to reduce their carbon emissions.

“Powys County Council has launched a ‘Powys Pound’ as a commitment to boost the amount of money spent with Powys businesses.”

The Powys Pound is a key part of the  PCC cabinet’s Vision 2025 strategy. Every £1 PCC spends with local companies generates additional investment and local job opportunities.

A survey claimed that every £1 is worth £6 and so every £1 million, £6 million.

In June, the cabinet revealed that they have spent £15 million in Powys which equates to an extra £90 million to the local economy since May 2017.

PCC believes: “it’s not just about getting the lowest price, it is about the getting the best value and doing what you can to boost the local economy.”

By Elgan Hearn, Local Democracy Reporter

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