Written Statement - Council for Economic Renewal – new working arrangements

I am pleased to inform Members of proposals to ensure continued, strategic dialogue through the Council for Economic Renewal, formerly known as the Business Partnership Council (BPC). 

The new name is a first important step towards re-invigorating the work of the Council, drawing on best practice learned from the Economic Summits, and linking its work to the policy approach outlined in our document, “Economic Renewal: a new direction”.  At the conclusion of the Economic Summits all parties agreed that we should not simply re-hash the former Business Partnership Council, but set the foundations for a better and more effective dialogue. 

The Council for Economic Renewal indicates a fresh start.  It will enable both the employer and employee voices to be heard at the heart of the Welsh Assembly Government, and help inform our policies. 

As Members will recall, the onset of the global economic downturn prompted the suspension of the former Business Partnership Council in favour of the Economic Summits.  These arrangements delivered for Wales and helped us support our communities and businesses through the downturn

We learnt valuable lessons from the Economic Summits.  In particular, we are keen to capture the action-orientated nature of the early Summit meetings.  We want the Council for Economic Renewal to provide us with a high level of strategic debate to help guide policy. 

The first meeting of the Council for Economic Renewal will take place on 1 December, chaired by me as First Minister, and with the Deputy First Minister participating.  Other Ministers will also attend from time to time when matters directly relevant to their portfolios are on the agenda.  For example, the Minister for Business and Budget will attend the 1 December meeting to provide an update on the Assembly Government’s Budget.  

The Council will focus its work on strategic issues of economic and business significance.  It will be supported in its work by an officials’ working group to follow-up on actions agreed.  I will be discussing membership, the frequency of meetings and other working arrangements in more detail with the Council itself on 1 December. 

We are committed to effective dialogue to help us develop the most effective economic and social policies for Wales.  Through providing a forum for a range of representative and expert voices, the Council for Economic Renewal will help us to do this.