It was recently estimated that, on a standalone basis, the Welsh budget deficit would be £14.6 billion, or 25 per cent of GDP—around 100 times greater than estimates of any transfer to or from the EU. The First Minister said he sees Scotland as the model, but does he not share my concern that if, in the long term, we continue going down the tax devolution route, particularly without a referendum, that that continuing transfer may be put at risk?