Can I thank the Member for his questions, and also for congratulating us on the work undertaken to secure significant investment from CAF in my friend and colleague John Griffiths’s constituency? It’s going to be an important addition to our manufacturing base in Wales. For the first time, we’ll be building trains. It’s a very exciting project, and it’s also one that has enormous expansion potential. Also, the development of a world first, the compound semiconductor cluster, is something, again, that south-east Wales can be rightly proud of, and it’s based on the economy of the future, an element of the economy that will be at the forefront of the fourth industrial revolution—again, an exciting, proud achievement.

In terms of support for start-up companies, it’s going to be essential that Business Wales and the development bank work closely together in ensuring that the appropriate and accurate advice and support are available at every stage of the journey for a businessperson starting up or for a businessperson who’s already operating a micro, small or medium-sized enterprise. For that reason, there will have to be alignment and I’ve asked senior officials from both Business Wales and Finance Wales to conduct a rapid piece of work looking at how best we can align the work and functions of both.

In addition, as I outlined—and I will follow up today’s oral statement with a letter to Members detailing each of the funds—additional resource has been made available to microbusinesses. It’s tripled in value in recent years. It will continue to provide opportunities that, prior to Finance Wales operating the microbusiness support functions, were difficult to obtain from commercial banks. I do also believe that the development bank, with a digital strategy, will ensure that the gateway services that it operates vis-à-vis Business Wales will be clear, transparent and simple in their function. Business Wales already have a very strong, well-established platform that the development bank of Wales will be able to utilise.