Well, you should read your own motion. You should read your own motion and you should be more careful next time you put it down so that you don't suggest things that, if they were true, would be very serious—but you now spend the whole of the debate trying to persuade us that that isn't what you meant in the first place. It clearly is; you've been found out and we will vote against the motion for that and many other reasons.

Let me turn to the issue of LTT rates. Llywydd, we only debated them in January of this year. In the context of UK Government austerity, my approach to setting tax rates was guided by the principle that there should be no less funding available for Welsh public services as a result of tax devolution.

Wales now has the lowest starting rate of tax for businesses anywhere in the UK, as Simon Thomas pointed out. Six thousand non-residential transactions in Wales will now pay either no tax or less tax than they would have before these changes were introduced. Fewer than 300 will pay the 6 per cent rate. Neil Hamilton said that the purpose of our tax regime should be to grow the economy, and I agree with him there. I don't probably agree with his strategy for doing so, but he made an important point about the general state of property taxation and the need for us to take a more rational view of it all. Within that rational view, the fact that 90 per cent of businesses in Wales will now be advantaged by our tax regime seems to me, as it seemed to the Bangor Business School, to be a course of action that will lead to more activity in the non-residential property market than would otherwise have been the case.

Non-residential transactions incur a range of costs and LTT will be one of them. The tax change for the highest-priced transactions represents a less than 1 per cent increase in the overall cost of the transaction, and that 6 per cent rate is a marginal rate, in any case, so it only applies to the price paid over £1 million.

The rates were the result of careful consideration of Welsh priorities and circumstances, with analysis of the potential effects taken by the Welsh Government and independently assured by the Bangor Business School.