I think the Member should look at the statistics, again, that I've just outlined and also the fact that the employment rate in Wales now stands at 72.7 per cent. That is 0.2 per cent up on the quarter and 0.3 per cent up on the year. I'm sure that the Conservatives in Westminster would wish to claim success each month when the statistics show that there are improvements, but today I noticed that the Secretary of State for Wales has remained quite silent on this issue, perhaps that same silence that we've heard over the Swansea bay tidal lagoon and air passenger duty as well.

Now, in common with other developed economies, we face a number of issues here in Wales, a number of issues that have informed our economic action plan. They include the challenges and opportunities of the fourth industrial revolution—the economic and environmental imperative to decarbonise, an ageing population, the changing nature of work in which wages have stagnated and insecurity is growing. These are compounded by the challenge of leaving the European Union. As a Welsh Government, we cannot and we will not stand idly by and leave our communities and our economy to flounder in the face of what is ahead of us. The threats we face require an approach that is focused on the future but that also addresses the needs of today—action for the short, medium and long term.

Reflecting the learning provided by international organisations like the OECD and the experience of successful economies like Canada, the action plan sets out an approach to inclusive growth that, yes, aims to raise growth in the aggregate but that also recognises that addressing individual wealth and well-being contributes to growth through raising productivity and competitiveness. The role of fairness, Llywydd, in supporting growth is clearly articulated in the economic contract. This drives the principle of public investment with a social purpose by seeking to increase the availability of fair work, reduce carbon emissions and support a competitive environment for businesses. In return, we will simplify finance to business and deliver a competitive wider offer.

Now, a key part of this is our response to a call from business and others for greater simplicity, which we are addressing through the creation of an economy futures fund. The fund will align with the financial support we provide through our calls to action, and these are designed to prepare businesses and the economy for the future, designed to address the productivity gap, and designed to drive up wages and standards of living. The economic contract, our calls to action and our economy futures fund—[Interruption.] I will shortly. And our economy futures fund will dovetail to change the way in which we approach, assess and monitor the provision of our direct financial support to business, and at the beginning of the new financial year we'll have that contract, we'll have the calls to action, and we'll have the fund in place.

But let's be clear: meeting the economic challenges and opportunities that we face is not just about what we do in Wales. The UK Government, I believe, through its macroeconomic powers, its approach to exiting the EU and through welfare policy is a significant influence indeed.