5. Will the First Minister outline the Welsh Government’s approach to investing in capital infrastructure projects across Wales? OAQ(5)0600(FM)

At the heart of our approach to capital investment is a focus on maximising the resources we have available and targeting these on the areas where they can have the biggest impact in boosting the economy, supporting our communities and connecting all parts of Wales.

First Minister, it was welcome news that the finance Secretary stated a £1 billion mutual investment model will be used to fund infrastructure projects in Wales. This includes social infrastructure, like Velindre cancer care centre, and also the twenty-first century schools programme, but also the final phase of the A465 dualling, which is so vital for my own constituency. How does the Welsh Government plan to use similarly innovative approaches to invest in infrastructure and benefit the people of Wales in the future?

Well, we are continuing to face unprecedented challenges to public finances, so it is vitally important that we unlock all opportunities to boost infrastructure investment. As well as the £1 billion of capital infrastructure investment we are committed to delivering through the innovative finance model, using the mutual investment model, we are also using innovative ways of funding capital investment through the £250 million extension of the housing finance grant and the £150 million coastal risk management programme, and those schemes are in addition to the £1 billion-worth of direct capital borrowing as a result of the Wales Act 2014.

First Minister, last year’s UK budget provided a valuable boost to capital infrastructure spending in Wales and shows what can be achieved when Welsh and UK Governments work together. Do you agree with me that the projects that you mentioned, the welcome agreement on a Cardiff city deal, and today’s announcement on the scrapping of the Severn bridge tolls, shows what can be achieved and that the Welsh Government and yourself are much better off working with Theresa May than with Jeremy Corbyn?

There is some cheek in that question, and I give him credit for that, but the answer is quite simple: no, I’d rather work with Jeremy Corbyn, bluntly, if you want the answer to that question. But, secondly, yes, I think it is right that, at a time when there is no election, Welsh and UK Governments are able to work together. The city deal was an example of that. But I have to say that, when it comes to the Severn bridge tolls, we been pushing for this for years on end. Now, if an example of working together is, ‘We've made the case and, hallelujah, the UK Government is converted’, then I welcome that as well. But it does show how important it is to have a strong team here in the Welsh Government to keep on pushing at Tory Governments so that they deliver things such as the ending of the Severn bridge tolls, which we’ve called for for years.

In terms of the new three-stage process for assessing proposals for new railway stations in Wales, you are no doubt aware that some campaigners calling for the reopening of certain stations that failed to make the second stage feel aggrieved, and these include members of the Carno station action group. Now, in light of that, and in the interests of transparency, will your Government be prepared to share the results of the cost-benefit analysis in moving from stage 1 to stage 2? Diolch yn fawr.

I see no difficulty with doing that. It’s hugely important that the cost-benefit analysis is shared so that people can see what the methodology is.