This is my ‘Mastermind’ specialist question, Dirprwy Lywydd, but I’ll be as brief as I can. I welcome the framework and the general principles. I recognised from my GCSE—or O-level economics, actually, let’s be honest—Adam Smith’s canons of equity and certainty there. So, two out of the four canons—not bad at all.

I will just focus very briefly if I may on the tax policy work plan. I should pay credit to Ben Lake, who joined us in the finance liaison committee and made a huge contribution here, and will be making a huge contribution somewhere else as well over the years to come. The work plan refers to a review of small business rates relief, which will be happening soon. If the Cabinet Secretary could say a little bit about that—obviously you set out the policy of the Labour party at the Assembly election, but, seeing as it’s a review, presumably they will take input from other parties beyond that stated outline position.

He mentioned air passenger duty. Can he confirm—? There was an implicit recognition that this is Labour party policy at a UK level to devolve this to Wales, but it wasn’t quite explicit, so if he could set that on the record.

I followed the debate with interest about the Laffer curve, which we often have here, but would the Cabinet Secretary accept that actually one method of using corporation tax, obviously, to close the prosperity gap is to devolve? There are attendant issues with that, which he referred to, in terms of block grant reduction in the case of Northern Ireland. There is a different method, of course, which was actually referred to in the Holtham commission report, which is actually to have the central Government set variable rates of taxes like corporation tax, but it could also apply to APD—I understand that that’s what the DUP are trying for in their negotiations—as Nicholas Calder did with selective employment tax in regional policy in the 1970s. So, this isn’t a race to the bottom now. This is the centre saying, ‘We will reflect the different levels of economic prosperity by having discounted rates of certain taxes in those areas like Wales that could benefit from something of a boost, without that then leading to a hit in terms of the block grant.

I have much more to say, Dirprwy Lywydd, but, out of deference to you, I will sit down.