The Welsh Government has announced plans to increase the share of public spending going to Wales-based suppliers.

This could help create tens of thousands of jobs in Wales.

Finance minister Elin Jones has confirmed that a public consultation on the new Wales Procurement Policy Statement is now live.

The Welsh Government wants to see a step change in how public procurement strengthens the Welsh economy, with the new statement aiming to increase the share of public spending going to Wales-based suppliers from around 55 per cent towards 70 per cent.

Currently, around £11.4 billion of Welsh public money is spent every year on goods, services and works.

Views are being sought from contracting authorities, suppliers, businesses, the third sector, trade unions and communities.

An electric vehicle programme is being used as an example of what is possible. Supplied by three Wales-based businesses, it is saving around £1.5 million a year while cutting more than 6,000 tonnes of carbon emissions.

Speaking at Procurex Wales 2026 in Cardiff, Finance Minister Elin Jones said: "Fulfilling our ambition for Wales will require every pound to work harder for the people, businesses and communities of our nation.

"Public procurement is one of the most powerful tools available to government. Used well, it can strengthen Welsh businesses, support good jobs, accelerate our transition to a greener economy and make a real difference for communities across Wales.

"I encourage businesses and suppliers to read the consultation and respond. Challenge us where you think we have it wrong and help us build a statement that is ambitious, practical and reflects the realities of procurement in Wales."