Ken Skates: Can I thank the Member for his endorsement of our decision to invest in TVR? I share his belief in the company. It has one of the biggest followings of enthusiasts of the brand of any British motor manufacturer, and I think the naming of this particular car the Chimaera, as well, recognises the strong heritage that the brand has. In the past, there have been two Chimaeras; this is the...
Ken Skates: We chose a mix of both a loan and equity: equity, in part, to ensure that we were able to benefit from the success of the company, as I've already said, and the loan in order to make sure that we get manufacturing to Wales. There are risks and rewards in any investment, but with this particular investment, the brand is incredibly strong and the potential of the reward is therefore immense....
Ken Skates: I'm happy to issue written statements confirming whenever Welsh Government takes an equity stake in a company. The Member asked about the role of Finance Wales as it was, and the development bank as it now is. The development bank is monitoring the progress of the business, but the reason that Finance Wales was not able to take an asset investment in TVR was, in part, because it could not...
Ken Skates: Can I thank the Member for his questions and say that the car received, importantly, a commercial and critical success? The reception was quite astonishing at Goodwood in the autumn when it was unveiled. It's a remarkable machine. The design incorporates unique and cutting-edge elements of automotive design by Gordon Murray, who himself is well known to automotive experts as being one of the...
Ken Skates: I do indeed share the Member's excitement about the investment the Welsh Government has made in TVR, which follows a process of thorough due diligence, and we provided a repayable commercial loan of £2 million in early 2016. This was made alongside a private sector lender. We've also invested £500,000 into equity on the same terms as other investors, giving the Welsh Government a minority...
Ken Skates: Yes, I would agree with the Member. I recently gave an interview to the BBC where I talked about the potential of using emerging transport projects as test beds for autonomous and connected vehicles. I think we can also utilise the development of the automotive technology park as an opportunity to put Wales at the forefront of the development of new automotive technologies and the deployment...
Ken Skates: Yes.
Ken Skates: —with the bespoke guidance, which incorporates the Welsh transport appraisal guidance, WelTAG. Yes, of course.
Ken Skates: I believe they'll have us in a better place in five years' time, the investment that we're looking at. But, also, you can't just identify the challenges in isolation from one another. The challenge of making sure that communities and people are better connected means that we have to introduce investment across a raft of transport provision, including the metro, including active travel,...
Ken Skates: But, alongside our major road projects, I also remain utterly committed to tackling congestion on the network and to encouraging modal shift, specifically through the introduction of greater means of applying active transport solutions, and through metros in the north and in the south, which will attract enormous investment in the coming years. I've also allocated £24 million to tackling...
Ken Skates: Diolch, Llywydd. Can I start by, obviously, thanking Members for their contributions today and also for giving me the opportunity to respond to the debate? I think there's no doubt that we have an important responsibility to ensure that Wales has a safe, reliable and efficient motorway and trunk road network that can support the economy and the communities of our country. But I want to make...
Ken Skates: Moved.
Ken Skates: The Member highlights the need for continued investment in our road network, not just in Wales but on a cross-border basis. We're working with Highways England to make sure that we get good cross-border road access as well. But within Wales, where we have full responsibility, we've initiated the pinch-point programme, with a particular focus on alleviating congestion at pinch points that take...
Ken Skates: The national transport finance plan, which was updated in December, is a live document and contains an ambitious programme of integrated transport interventions for south-east Wales.
Ken Skates: Absolutely, and I'd reiterate that the Welsh Government is committed to taking action on the living wage and will continue to promote adoption of the living wage across the Welsh economy. In March, I believe it was, last year, we introduced the code of practice on ethical employment in supply chains. This code commits public, private and third sector organisations to a set of actions that...
Ken Skates: Yes. The living wage can provide benefits to the economy, to businesses and to individuals. We're taking action to promote the benefits of adopting the real living wage to employers. I think it's worth pointing out that a more equal society is a more cohesive and a happier society.
Ken Skates: The construction sector makes a critically important contribution to the Welsh economy, sustaining as it does something in the region of 13,000 businesses and employing around 112,000 individuals. The Construction Skills Network in their latest forecast predict that Wales will see unprecedented growth in construction up until 2021.
Ken Skates: We're continuing, I think, a positive trend in house building in Wales, despite the latest quarterly figures that showed, as the Member indicated, a 12 per cent decrease in completed dwellings in July to September last year. There was actually a 27 per cent increase in the previous quarter. And in addition, the number of social housing homes completed in the first quarter of last year was up...
Ken Skates: I'd like to thank the Member for this question. When I saw it submitted I was at first perplexed and then realised, actually, this is a piece of work that needs to be considered more deeply. I took a look at the clause and, in particular, condition 39.2, or part of 39.2, which states: 'However, if any such event prevents either Party from performing all of its obligations under the Contract...
Ken Skates: Through Business Wales's Construction Futures Wales and procurement support we remain committed to supporting business resilience. Diagnostic checks and support ensure that businesses are fit and as best-placed as possible to withstand the impact of general or force majeure issues impacting their financial standing.
