I’m grateful for the opportunity to speak in this debate this afternoon. It provides an opportunity to highlight the transformation that has taken place in the United Kingdom economy, thanks to the policies of this Conservative Government in London. Labour left behind a dismal economic legacy: Britain had suffered the deepest recession since the war, we had the second largest structural deficit of any advanced economy in the world, and unemployment had increased by nearly 0.5 million. The incoming Government had to make realistic assessments about the state of the British economy. This involved taking the difficult decisions required to reduce the deficit and to control spending.

Thanks to their long-term economic plans, Britain has a strong and growing economy now. According to the IMF, the UK has the fastest growing economy in the G7 this year. Employment is up by 2.8 million since Labour were in power, and unemployment has fallen to an 11-year low. The deficit has been cut by two thirds and debt as a proportion of national income will begin falling in 2018-19.

As a result, the UK Government has helped ordinary working families keep more of what they earn. Raising the tax-free personal allowance—[Interruption.] Let me finish a few things. If I have time, I’ll give them. Raising the tax-free personal allowance has cut tax, actually, for more than 28 million people, and 4 million people are totally out of tax altogether. The national living wage is going up to £7.50 an hour from next year, giving a further pay rise to 1.3 million people. Fuel duty has been frozen for the seventh year in succession, saving the average car driver nearly £130 and a van driver over £350 a year.

We, here in Wales, have also seen the benefits of these economic transformations. They have allowed the UK Government to invest an unprecedented amount of money in Wales. We already have the biggest rail infrastructure programme since the Victorian era. The electrification of the Great Western main line and the Valleys line network stands in stark contrast to the record of the last Labour Government, which did not electrify one single inch of track in Wales in 13 years.

Investing in rail electrification is one of the most effective ways to grow the economy in Wales. The autumn statement will see the Welsh Government benefit from a boost to capital budgets of over £400 million. This investment gives the Welsh Government the opportunity to greatly strengthen and diversify the Welsh economy. Gerry Holtham—listen to the people on this side, now—confirmed recently that Wales is no longer underfunded. That is his quote closed. The Welsh Government can no longer pass the buck and blame Westminster for their failure to deliver the changes Wales desperately needs. Hopefully, we can progress the M4 relief road, which is desperately needed to relieve congestion on this vital artery of the Welsh economy.

I also wish to say something about the apprenticeship levy. I regret that the Welsh Government has failed to commit itself to reinvest this funding into improved apprenticeship training. This is money given by businesses, and it is vital that this is reinvested into training. Groups such as the Welsh Retail Consortium have expressed their disappointment that the Welsh Government is viewing the levy consequentials merely as a revenue stream. They could be used to boost and enhance skills training for people, particularly those in our most deprived communities, such as south-east Wales. Presiding Officer, I welcome this autumn statement, which gives the Welsh Government the chance to seize the opportunities ahead, in a way that builds an economy that transforms Wales and benefits the people of Wales. Finally, we just heard that because of our Government in London, all of Tata’s plants in the UK are going to remain open, and there will be no redundancies in the future. Thank you.