Economy, Trade and Rural Affairs Committee inquiry into the Foundational Economy: Welsh NHS Confederation response
Key points
Health, wellbeing and the economy are bound tightly together; a healthy (physically, psychologically and socially) population results in a more economically active population.
Interventions designed to improve health, inclusive growth and wellbeing in Wales are in the interests of all local, regional and national partners, businesses and communities.
As our briefing, Health, wealth and wellbeing: The NHS' role in economic and social recovery, highlights the NHS has a significant leading role to play in the Foundational Economy because they are seen as Anchor Institutions.
NHS organisations are Anchor Institutions because they are large organisations whose long-term sustainability is tied to the wellbeing of the population through being one of the largest employers in local areas, a key purchaser of goods and services, and a capital estate holder and developer.
The socio-economic impacts of NHS Wales spread far beyond its economic scale and scope to include wider impacts, including employment stability, regional wages, occupational structure, and economic activity rates.
Collectively, these factors impact positively on Welsh productivity and the economy, with organisations and businesses benefiting significantly from healthier and more productive workforces.
