The Future Generations Commissioner for Wales has called for Wales to become a Real Living Wage nation.
The call from Derek Walker came at a major event examining how Wales can switch to a well-being economy.
One third of people in Wales are earning less than the real living wage, meaning their incomes cannot keep up with the true cost of living. The number of people earning at least the Real Living Wage is at its lowest in Wales in a decade.
Mr Walker collaborated with 4theRegion, WE Cymru, Public Health Wales, Oxfam Cymru and Cwmpas, on the first ever Wellbeing Economy Cymru Festival of Ideas at Swansea Arena.
More than 600 people from across Wales, in business, government, the voluntary sector and community joined the event, which was opened by leading economist Kate Raworth, author of Doughnut Economics.
The event aimed to change how we think about our economy, its purpose and its possibilities and will highlight the practical actions being taken at local, regional and national level in Wales to switch the country to a well-being economy which prioritises people and planet.
Wales is the only country in the world with a Well-being of Future Generations Act, which puts into law a goal for a prosperous Wales with an innovative, productive and low carbon society which recognises the limits of the global environment.
The event set out to explore what it means to be a well-being economy, and how Wales can shape a common vision through the Well-being of Future Generations Act, how to apply it in economic development policies, and how to balance traditional metrics such as GPD, to create change.
Speakers included Julie James MS, Welsh Government Counsel General and Minister for Delivery Michael Weatherhead from Global WeAll; Ali Arshad from Ffair Jobs, Alwen Williams from Ambition North Wales and Paul Relf, Swansea Council.
Organisations putting the well-being economy into action shared their ideas including Repair Cafe Wales and Benthyg Cymru. Part- funded by Welsh Government, they support a network of communities to develop a ‘Library of Things’ and pop-up Repair Cafes to support the circular economy. Since 2020, Benthyg Cymru supported 15,000 ‘borrows’ across Wales, which has saved households in Wales £400,000 and reduced carbon emissions by 180,000 kg. Repair Café Wales supports a network of more than 140 repair cafes and has fixed 19, 377 items, saving 637,503.3KG Co2e carbon emissions.
Rhondda Cynon Taf Council switched to a Real Living Wage in direct response to the cost of living crisis and is one of 16 public bodies in Wales paying a Real Living Wage to its employers. 582 employers in Wales have achieved Real Living Wage accreditation, which has uplifted almost 24,000 people to a Real Living Wage since 2011, resulting in more than a £140 million additional income for Welsh households.
Derek Walker said:
“We all want to live in a world where everyone has enough to live in safety and comfort on a healthy planet – an ambition of Wales’ Well-being of Future Generations Act.
“To reduce economic hardship and inequality, we need a switch to a well-being economy, where everyone earns a real living wage, where we lift children out of poverty, wealth is more equally distributed and we don't extract more from our earth than it can afford.
“Economic policies are not working for current or for future generations and we need action at all levels – by local authorities, Welsh Government, businesses and community groups – together we can do things differently and reprogramme our economy so it works in the interest of everyone.
“We’re using the earth’s resources in Wales at a faster rate than is sustainable. Let’s be more ambitious and move towards a society that only takes what it needs, ensuring we have a liveable planet to leave our children and grandchildren.”
