It’s not clear that we are going to lose the EIB. Officials have been in discussions with the EIB and there is no reason why people outwith the European Union can’t receive funding, but, of course, if the United Kingdom is outside the European Union, there would be less money available to the bank itself. So that’s what the position is at present according to the bank, so it would still be open.

We want to ensure that the development bank will be able to support businesses, but, at the present time, the work on the commission is being developed. I’m not in favour of a totally independent body, some kind of quango, but we want to ensure that the commission is a body that can develop and plan ahead for the best infrastructure for Wales for the future.