Part of the debate – in the Senedd at 2:29 pm on 8 February 2017.
As the Cabinet Secretary knows, I’ve been a strong supporter of this proposal all along, and whilst I do understand the necessity for doing proper due diligence in proposals of this kind, this is a transformational project. If it succeeds, then it’s going to completely transform the economy of Wales, certainly in the south-east and mid Wales. It’s important, I think, to point out that there isn’t actually any public money going into this development, apart from the £9 million that’s already been committed for development funds, but all that’s been sought is a guarantee of less than half the private capital that is going to be invested. The Government will actually be paid £3 million a year for that guarantee, so the Government is actually getting something in exchange, and the guarantee itself will not actually become executable until the assets are actually built on the site. So, there will be solid security, as and when the guarantee might, as we hope not, ever be called. Consequently, this is a very good deal, I think, for the Welsh Government, and for the people of Wales, and so he should give it as fair a wind as he possibly can.