I would like to take the opportunity to fully respond in terms of an update on the Circuit of Wales and the questions and issues that Adam Price has raised. We have of course been working with the Heads of the Valleys Development Company over many years to find a way to make the Circuit of Wales project work. Now that the Heads of the Valleys Development Company has submitted its final supporting information, the Welsh Government is completing its comprehensive due diligence process on the Circuit of Wales proposal.

Of course—and this has been exchanged, about the importance, which has been recognised—due diligence is an important part of that consideration in supporting any project. It’s an opportunity to ensure there’s a sustainable and robust business plan in place, fair sharing of risk between the private and the public sectors, and to examine the wider economic impact of the proposal. And, as has been said, again, once that work is completed, Cabinet will consider the project and we will announce a decision.

The first formal proposal that included the idea of an 80 per cent guarantee for the Circuit of Wales project was set out in a document dated 15 April 2016. Various face-to-face, phone and e-mail discussions on the risks and legalities of the project took place over a number of months prior to this date between officials and other key organisations, including the Heads of the Valleys development company and their advisers, and the level of guarantee would have been part of those discussions. Indeed, I would also add that the First Minister has received correspondence from yourself and will reply in due course.