Well, Llywydd, I did make a conscious decision to use money that is available to Wales as a result of the Chancellor of the Exchequer's decision in relation to first-time buyers in England. I did take a conscious decision to apply that money for broadly the same purpose here in Wales. The Member will be well aware of the awkwardness that we face in our draft budget being laid at the beginning of October and then a major event at the UK level halfway through it. My ambition was to be able to lay information in front of the Assembly at the earliest point that I was able. A written statement was the practical way of doing that. The regulations to give effect to all of this will not appear in front of this Assembly until the new year, and there will be a full opportunity for Members to scrutinise the regulations then. 

I entirely reject the idea that what we are involved in here is tax competition. What the devolution of land transaction tax to Wales does is to allow us to design this tax in a way that reflects the needs of Wales. I understand that the Chancellor of the Exchequer, when he was having to make a decision on an England-and-Wales basis, had to take into account house prices in London and the south-east of England as well as house prices in Merthyr and Blaenau Gwent, here in Wales. He then has to take a very broad-brush approach where some of those figures simply don't meet our circumstances. Having the tax in our hands here in Wales means that I have been able to set thresholds that reflect house prices here in Wales. Eighty per cent of first-time buyers in England will pay no tax at all as a result of the Chancellor's decision. Eighty per cent of first-time buyers in Wales will pay no tax as a result of the threshold that I have set here in Wales. 

The decisions I've made are not part of a grand statement, Llywydd. They are part of a carefully calibrated announcement in which I've tried to remain true to the commitments we have given that we will begin the journey of devolved taxes in a way that is careful, that is focused on doing a competent job, that allows those people who have to do the practical work to have a system that they recognise after 1 April as well as the one that they operate now, but at the same time to concentrate the help that we are able to offer into the hands of those who need it the most.