The Federation of Small Businesses (FSB) Wales has called for the UK Government to address the Swansea Bay Tidal Lagoon in the budget and to end the uncertainty hanging over the project.
Janet Jones, FSB Wales Policy Chair, said:
“With the Autumn Budget coming up next month, it is critical that the Chancellor commit to projects across the whole of the UK, and to look at how investment in Wales will shore up business confidence at a time when uncertainty prevails.
“We are calling on the Chancellor to end the uncertainty over this issue and to give a firm commitment to the Swansea Bay Tidal Lagoon in the Autumn Budget.
“The Swansea Bay Tidal Lagoon has widespread support from businesses, holds regenerative potential for the region, and has supply chain opportunities for small businesses across South West Wales.
“Now that electrification of the railway will not cover Swansea, it becomes even more important for the Chancellor to provide a boost to businesses by affirming the UK Government’s commitment to investing in Wales, and particularly with regards to the Tidal Lagoon, recognizing that investment must take place further west than Cardiff.”
Earlier this year Welsh Conservatives have also written to the Government asking for the full support for the proposed Swansea Bay tidal lagoon scheme.
The Swansea Bay tidal lagoon proposal includes the construction of 320MW power plant and associated infrastructure that will comprise 16 hydro turbines, a six mile breakwater wall, and be capable of generating electricity for 155,000 homes for the next 120 years.
The lagoon has been designed to harness the power of the tides to provide long-term, predictable, low-carbon electricity for the UK.