I think, the Member for Islwyn, I would agree that the austerity agenda has been self-defeating, that it is wrong and that the poorer communities of the UK, including the Valleys communities, have suffered more than any others as a result of it. Of course, the infrastructure project around the metro is something that we fully support. Where I have an issue with Welsh Government and others is, in terms of the transport infrastructure, it absolutely makes perfect sense that we plan that on a south-east capital region basis—in fact, I was big supporter of SEWTA, which was abolished under the previous Government, because that was a regional transport co-ordinating body that I think worked effectively—but, in terms of economic planning, I am yet to have the reassurance from the current Cabinet Secretary for the economy that we are going to have a proper place-based approach to economic development in order to maximise the potential of the metro system. I’m very much looking forward to seeing a pioneering economic development plan and industrial strategy, published before the summer, from the Welsh Government that is going to designate every part of this country a specific economic stake in the future success of this country, because that is the only way we are going to have a just prosperity for all.

Of course, the challenges of the Valleys, economically, are deep-rooted, long-standing and they require more than just one intervention to reverse that trend. That’s why we’re calling for the establishment of a Valleys development agency, suitably equipped and properly accountable. We have recently been taking evidence in the External Affairs and Additional Legislation Committee—some Members are here this afternoon—on future regional policy in Wales following our withdrawal from the EU. I would advise all Members to look at the evidence that we’ve amassed. We’ve had a great deal of useful insight and evidence, not just on what has worked in terms of regional policy in Wales in the past and maybe what hasn’t worked so well, but we’ve also exposed some interesting and exciting possibilities for the future. Among the pieces of evidence that we received was a report by the OECD. They described the shift that needs to occur and has occurred in many countries in terms of regional policy, and there’s one passage that I’d like to quote. They say that, in the past, regional policies tended to focus on addressing disparities between regions through the provision of subsidies to compensate them for lower incomes. Policies were designed by central governments through departments of state that delivered narrowly defined economic development programs. This approach was seen as increasingly ineffective and not sustainable from a fiscal point of view. The new approach to regional policies emphasise a focus on competitiveness and working with regions to unlock growth potential. This approach has significant implications for how government works. Governments need to work in a more integrated way at a regional and local level.’

I.e. not doing things to people and not looking at regions specifically in terms of their competitive disadvantage, but unlocking the potential that already exists within regions and empowering those regions to get on and fulfil their potential. So, this amounts a place-based approach that I mentioned in my response to the Member for Islwyn earlier, effectively saying that the days of governments doing things to areas are over and that public policy must be used to empower regions to do things for themselves.

In studies carried out by the OECD among others, place-based approaches to regional policies are shown to be effective in improving regional performance in those regions where there is a tangible regional identity. The Valleys is a tangible region. We are linked culturally, socially, historically. The Valleys entity is among the strongest in this country, so there is an outstanding opportunity to draw on that shared cultural, historic and social basis to unlock the potential. So, there’s a basis for prosperity, let Government now give that region the means to realise that prosperity. Diolch yn fawr.