On the wider question of the Barnett formula, could I ask the Cabinet Secretary about something that I find very curious in the Labour manifesto? It sets out the creation of a national investment bank—I absolutely support that principle—a national investment bank with £250 billion of investment, of which £10 billion is to be apportioned to Wales and the development bank that’s being created here. Now, by my calculation, that’s around about 4 per cent of the total for the national investment bank, i.e. Wales is not even getting its population share, let alone a Barnett consequential, effectively, from that investment. And yet, we’re told that this is the tool that is going to reduce the disparity in prosperity across the UK.

Finally, as well, the commitment on structural funds only runs to 2019-20. There is no commitment, actually, beyond that, to creating a long-term cohesion fund as part of a wider regional economic policy. On these two points, why, actually, is the Labour manifesto so incredibly weak in setting out real levers that can actually begin the work of lowering the disparity in wealth that we see across the UK?