I fully acknowledge that the record of the Welsh Government is far better than the UK Government’s on PFI contracts. Indeed, the total percentage of the unitary charges, the annual repayments, that are going to be made is only 1.7 per cent of the UK total. So, that’s a very good thing. But there’s still a substantial debt that is in gestation for repayment over many years, and reducing the costs of those repayments will, on an annual basis, mean that there is more money to spend upon other good things on which the public sector needs to spend.

Of the projects that are currently outstanding, there’s the A55 from Llandygai to Holyhead; the capital value of that was £100 million. There’s the Lloyd George Avenue and Callaghan Square development here in Cardiff; the capital value of which was originally £45 million. That’s nearly a third of the total outstanding projects by value, on which, for £145 million of capital provided upfront, the repayment costs are nearly £800 million. That’s an appalling deal and the sooner we can unravel these contracts the better.