Wales needs its own version of 'GERS' economic data - Adam Price

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Plaid Cymru Shadow Cabinet Secretary for Business, Economy & Finance, Adam Price AM has today called for the introduction of Wales-specific economic data in order to improve the quality and quantity of information available about the state of our economy.

Adam Price AM's call comes on the day GERS (Government Expenditure and Revenue Scotland) figures are published - data which provides detailed analysis of public sector accounts.

He added that a Welsh version of GERS would provide greater transparency and allow the government of the day to implement smarter economic policies, tailor-made to suit the specific needs of the Welsh economy.

Plaid Cymru AM for Carmarthen East and Dinefwr, Adam Price said:

"Plaid Cymru believes that improving the quality and quantity of information available is key to the successful renewal of our economy.

"At present, there is a dearth of Wales-specific economic intelligence which makes it difficult for policy-makers to come up with a strategy tailor-made to meet the unique demands of the Welsh economy.

"Before the Assembly Election in May, Plaid Cymru proposed liaising with the Office for National Statistics to ensure an increased range of statistics is produced about the performance of the Welsh economy, including up-to-date quarterly GVA figures, a full set of national accounts, including import-export data for goods and services at both extra and intra UK levels.

"We also proposed developing a national inventory of the demand for basic goods and services such as food, housing, energy and other utilities, in order to identify potential opportunities for domestic firms.

"While we were pleased to see Cardiff University publish detailed analysis of the state of the Welsh economy earlier this year, it is imperative that such an occurrence is not a one-off and that the government commissions this work on an annual and official basis.

"With Scotland publishing its GERS figures today, it is high time the Welsh Government was required to produce an annual report on the economy, including a detailed input-output table and a full set of public sector accounts, similar to the Scottish publication.

"Plaid Cymru believes that this would inform smarter policies in order to boost productivity, growth and job-creation - the cornerstones of a successful economic recovery."

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