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Wales TUC: Infrastructure investment could create 59,000 jobs and boost economic recovery
Almost 60,000 jobs could be created in Wales in the next two years through government investment in key infrastructure projects, according to a new report published yesterday by Wales TUC.
The research – carried out for the Wales TUC by Transition Economics – shows that fast-tracking spending on projects such as social housing, public transport, and decarbonisation could make a significant contribution to the economic recovery.
Broken down by sector, projected job creation from a £6bn investment in infrastructure would mean:
- 27 thousand jobs in housing construction and energy efficiency retrofits
- 18 thousand jobs in transport upgrades
- 9 thousand jobs in energy, manufacturing, and broadband infrastructure upgrades
- 5 thousand jobs in land, forestry, and agriculture improvements
These jobs would benefit some of the sectors and demographics hit hardest by the COVID19 emergency. Over 75% of the jobs would be created in sectors that traditionally employ non-graduate workers.
Shavanah Taj, Wales TUC General Secretary, yesterday said:
“The best way to protect our economy is to keep people in work. And that’s why we’ve been calling for an extension to the job retention scheme beyond October.
“But we also need urgent action to create equitable and inclusive new job opportunities for all workers in Wales. We have suffered from long-term under-investment in our nation’s infrastructure. Investing in green and ambitious projects now will not only create work for thousands of people in Wales but will also provide huge long term benefits to the Welsh economy, which is particularly crucial as we set to leave the EU.
“The costs of inaction far outweigh the costs of making these investments. We need the UK Government to provide the level of funding that Wales needs.”
Commenting on the publication of the report, the Future Generations Commissioner, Sophie Howe, yesterday said:
"This analysis from Wales TUC shows the potential of investment in key sectors to enable a green, fair and prosperous recovery from COVID-19.
“We urgently need a recovery that increases equality, provides skills, training and employment opportunities in industries of the future, while incentivising every sector in Wales to meet the well-being goals of the Well-being of Future Generations Act.
“This analysis shows this is within reach through wise investment and bold stimulus decisions.”
- The full report can be found at: https://www.tuc.org.uk/research-analysis/reports/job-creation-wales-infrastructure-investment
- The research was commissioned by the Wales TUC and carried out by Transition Economics - http://transitioneconomics.net/
- Employment figures modelled here are only direct and indirect (supply chain), and do not include induced employment. As induced employment derives from spending of salaries by workers, this would also support revival in the hospitality, entertainment and retail sectors.
- The analysis focuses on infrastructure projects that can be implemented within the next 2 years. The job creation potential of each project is estimated by investment size (in £ million) and multiplier (jobs created per £ million invested). Projects are then assessed against ten criteria on economic and social benefit (based on World Bank guidance for policy-makers on COVID-19 recovery measures).
- A full methodolgy can be found on p13 of the report.
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