Diolch, Llywydd. The Welsh Government’s next draft budget will implement a different type of budget making in Wales. It will not only set out the Welsh Government’s spending plans, but also how some of those finances will be raised, as Simon Thomas says, using both our new tax powers—the first for 800 years—and our new powers to borrow. These are fundamental changes to the fiscal framework in Wales, and it’s right that we have a process that continues to provide robust scrutiny of the Welsh Government’s spending plans, and now also its financing plans. We look forward to putting this new process into practice in the autumn, and I’m pleased that the Finance Committee, and the Cabinet Secretary for Finance and Local Government, have worked together to agree these proposals.

Indeed, we started on this path, as you say, in the fourth Assembly. We also had a visit to Scotland on that occasion, as well, and, of course, your recent visit, I’m sure, was very enlightening. However, as we move forward, as we bed in our new tax-raising and borrowing powers, our budget will evolve. These changes to Standing Orders and the budget protocol provide flexibility to ensure that the scrutiny of the budget continues to be meaningful, proportionate, and robust, and the Cabinet Secretary is keen to continue working with the Finance Committee as these new arrangements are established. We also welcome the Finance Committee’s work looking into a legislative budget process, as Simon Thomas has mentioned. We look forward to hearing the outcomes from that work in due course from the inquiry that you’re undertaking. Overall, we support the proposals. Diolch.