I also wanted to talk a little bit about the missed opportunity in this budget around energy and industrial strategy. It was quite disconcerting to hear Caroline Jones say some things that I would agree with, but there we are. We've got an agreement on some of these things, and this particularly turns around the missed opportunity, of course, around the tidal lagoon. At the beginning of my remarks, I state very clearly I'm a community shareholder, as hundreds of people are in the Swansea bay area, in the tidal lagoon, because people want to see this development move forward and take place. 

It is disappointing not to have a statement in the budget around the tidal lagoon, but it is even more disappointing, I think, to see the lack of detail in the industrial strategy around tidal energy. I don't think it's betraying any confidence to say that, when we went to meet with Greg Clark as committee Chairs in the summer and following a debate in this Assembly, when we all voted in favour of the principle of the tidal lagoon, though we weren't expecting anything to be said at that meeting, the Minister there was very keen to emphasise how important the industrial strategy would be for tidal development, not just in Wales but throughout the UK. And what we end up with is an industrial strategy that virtually doesn't talk about—well, it doesn't talk about tidal lagoons at all, and doesn't talk about tidal development in Wales. It does talk about Scotland, and I'm concerned there, because it leaves us in a situation where the tidal development that we are already seeing in Wales, which is off Pembrokeshire and Anglesey, in a number of wave and tidal developments that the Welsh Government has invested in, seems to be completely ignored by the UK-wide industrial strategy.

So, there's a huge, complex issue to be addressed in this budget around support for new green technologies or decarbonising our economy, and it's reflected as well in the debate around the compact for difference, because that's been in discussion around the tidal lagoon for at least two years. We've had an independent report, the Hendry report, that says the tidal lagoon can be a pathfinder for this technology. I very much agree with what Mike Hedges said—if we do it now, we're the ones that will benefit from that early investment. Yes, there is investment up front, but that pays off many times over in our skills development, in our industrial development here in south Wales. Other than that, we become the recipients of whichever Chinese company decides in 15 years' time it would like to build a tidal lagoon in Swansea bay. I think there's a complete misunderstanding of the need to get ahead of this investment.

Now, it has been said, and it is true, that the Treasury in the budget and the papers around the budget says there's no new low carbon electricity levies or compact for difference likely before 2025. That's been mentioned already. However, there is still about £0.5 billion in the Department for Business, Energy and Industrial Strategy for low-carbon technologies, and I still think there's an opportunity for the Welsh Government to press for that to be utilised for the Welsh projects as well. I'll give way.