Well, the finance Secretary speaks of a race to the bottom—I have to say to him that economically, it’s a race that we in Wales comprehensively won. And that’s the problem that we have to address. Now, asking Westminster for new fiscal levers is an important response to the economic challenges we’ll undoubtedly face, but so is using the ones we have now more effectively. Currently, the Welsh Government has committed to financing three programmes using the non-profit distributing model of financing investment, totalling £1.9 billion.

Figures we produced during the recent election campaign showed the Welsh Government had the capacity to more than treble that figure to £7.3 billion—three times the structural funds programme that he referred to. While we wait for others to act for us, isn’t it time that we, in this Chamber, started to demonstrate that when the circumstances demand it, we too can be bold? Or is the Welsh Government going to demonstrate the same absence of proper planning and true leadership that is currently turning Westminster into a Parliament of clowns?