I thank the Member for what I take to be three main questions. In relation to contracts that the Welsh Government has, there is one contract—the contract in relation to the design phase of junctions 15 and 16 on the A55, which was awarded after the original warning about Carillion in July of next year. At the point that that warning was issued, the procurement process was paused, further assurances were sought from the company. Those assurances were received, and risks that might have been involved were mitigated. No other contract has been awarded since July of last year.

As far as Abellio is concerned and the franchise arrangements there, I think there are a number of points that I should make. First of all, directly in answer to Adam Price's question, Transport for Wales, having seen the developments in July and during the autumn, have been involved in making sure that the necessary financial underpinning of bids is reliable, and they have been in discussions with Abellio on that basis. In the immediate aftermath of events earlier this week, the Cabinet Secretary has taken legal advice so that we are clear as to whether there are any impacts from these developments for the franchise process. The company itself is taking action to make sure that it is in a position to go forward with a bid, if it chooses that course of action. And the Welsh Government remains committed to a final outcome in the tender process that leads to the improvement in services that people in Wales wish to see secured.

The third question that the Member raises is the broadest one, of course. He will have seen, I'm sure, a piece in the Financial Times today called 'The Problem of Bigness', in which the author teases out the difficulties that occur for public contracting organisations in a market where there has been radical consolidation and the number of players in the field doesn't necessarily give rise to genuine competition. So, that inevitably does come to the fore in the Carillion experience, and he is right to point to the fact that all public authorities that are involved in securing necessary services through going out to contract will want to review this experience, learn the lessons from it and make sure that public funds are not exposed unnecessarily in the future.