I don't believe that to be the case. I think there is evidence of land banking happening in some parts of Wales. I've pointed in the Chamber previously to our stalled sites fund, which shows over 400 sites in Wales unable to be brought forward to be put to productive use, because there is remediation work required or the need to provide services for that land means that that land is not in productive use. Our stalled sites fund, with £40 million of Welsh Government investment available for it, is designed to help to remedy that situation.

I think it's very important for me to point out that the purpose of a vacant land tax is not to penalise anybody who is doing their very best to bring that land into active use, but is to provide an additional incentive to people who simply sit on land, hoping that the work that the public have done in providing them with planning permissions and so on will just lead to rising land values and, having done nothing at all themselves, they will be able to cash in on that by selling land in future.

The process, however, Llywydd, is really important, because at this stage we're at the very start of this process and many of the questions that the Member raises and other detailed questions will be part of the work that we will want to do once we know that the power has been transferred to us to bring this idea further forward.