Where to Spend the Tory Panic Windfall?

This Guy's in charge - no worries!

The new buzz phrase is fiscal stimulus and actually it is something long overdue in an economy having the life squeezed out of it. Plaid's Elin Jones tried to make the point last night in between Dimbleby's reluctance to have anything relevant to Wales mentioned on QT (he really is a tedious man) and even the Tories are now admitting, that they are looking at Plaid's 'Build for Wales' model for raising funds.

So, assuming that the Tories do agree some sort of capital stimulus package (and Lord help us if they don't) and Labour in Cardiff Bay go along with it (although I realise that they don't like to co-operate with the 'evil ones'), where to spend in Wales? Here is a wish list: -

• ENERGY CONSERVATION
• TIDAL LAGOON TRIAL
• AFFORDABLE HOUSING
• RAIL NETWORK DUALING & UPGRADING
• EXTENSION OF ELECTRIFICATION TO SWANSEA
• ADDITIONAL FUNDING FOR SCHOOL BUILDING PROGRAMME
• MORE FUNDING AVAILABLE FOR WELSH PORTS TO SUPPORT OFFSHORE WIND

Peter Hain was the first off the mark, talking up the £30 billion Severn barrage. He claimed in the media that it would not require public funding (wrong) and my concern about this scheme is that politicians in London stinging from the accusation of not being seen as green, are looking for a headline grabbing scheme to reclaim the moral high ground. Business groups have now kicked in on the Welsh media this morning, calling for better transport links, including the inevitable call for improving the M4. This equates to a £1 billion spend to move a traffic jam from the east side of Newport to the east side of Cardiff.

If I had to choose one, I would choose investment that had a beneficial effect on as many levels of Welsh society as possible, which is why energy conservation would be my choice. Wales has some of the oldest housing stock in the Western World and also very high and increasing levels of fuel poverty, as the public sector cuts clobber our communities. The past and current efforts to improve housing insulation has with respect, been piecemeal. Think of the gains from a targeted massive spend on homes with low incomes and poor insulation and heating. The families would gain, along with the thousands of skilled and semi-skilled employees required to do the work. We could source as many local suppliers as possible, injecting much needed capital into our SME's. It would touch almost every community and improve the health, life chances and reduce the fuel bills of our poorest families. It would also slash our carbon footprint.

Rockwool - a world class Welsh insulation product

The Welsh economy is in very dangerous waters and now is not the time to sit back and watch as we go down yet another set of rapids. Let's hope that the British parties take the plunge, as we are in serious trouble otherwise.