Political points from business bank bickering
In Cardiff Bay there's been a minor political spat about the publication of competing proposals for a business bank to be created to channel taxpayers' money to small firms. The Welsh Conservatives are accusing Plaid of attempting to spoil their policy launch by rushing out a pre-emptive call.
It's certainly true that the Tories have been planning today's launch since long before Christmas. It's also true that Plaid's Adam Price championed the idea of a Bank of Wales three years ago. But the Conservatives question the timing of Plaid's decision to make the call again.
The other twist in the tale is that a figure long associated with the Welsh Conservatives, Professor Dylan Jones Evans, has been appointed by the Business Minister to report to her about all these matters. Cutting through the arguing, I think there are three political points to draw from today:
- Conservatives are promoting the idea of a state-owned bank, an eye-brow raising fact which perhaps underlines growing confidence and independence of thought in the Welsh group. On closer inspection it does meet Tory ideals though: better use of public money and partnership with the private sector.
- A cross-party consensus is emerging. If the Conservatives and Plaid Cymru are both arguing for a state-owned lending bank AND the Welsh Government's independent review will look at it too, then this is an idea whose time has come. The difference is about details.
- They're arguing over ideas. Reject the idea or dispute the detail, but this a major, thought-through policy launch from a group which is often accused, particularly by Labour, of having no ideas. And the retaliation comes not with personal jibes but counter-proposals. This seems to me a Good Thing.
Welsh business bank: the Conservative view
The Welsh Conservatives' Shadow finance minister sets out his view of what sort of business bank Wales needs and why
Welsh business bank: the Plaid Cymru view
Plaid Cymru's economy spokesman sets out what sort of business bank Wales needs and why
Calls for a new bank to help small firms
Welsh Conservatives outline plans for a network of banks to channel public money to small businesses.