It is gratifying to see that the Welsh Government now has a clear idea of its role in supporting the business community in Wales, especially with regard to investment. It appears we now have a framework within which the Government can achieve its objectives. This is an essential part of delivering that much-needed boost to prosperity so desperately needed by the people of Wales, especially those in the lower-end skills sector. The new economic contract is also to be welcomed. We particularly like the Cabinet Secretary's objective to ensure that with all contracts, each party gets something for something and that it is to include an ongoing dialogue with business. We all acknowledge the considerable challenge Wales faces with the relatively small amount of money companies are investing in research and development. So, it was good to see that this point is dealt with in the financial contract that would ensure that companies improve productivity, upskill workforces and invest in R&D. 

Turning to Government investment in the business sector, I have long called on the Government to simplify pathways to investment for businesses, and it is to be noted that this was one of the key issues raised in your consultations with the business sector. I have some concern that you feel the best way to deal with these issues is, in consort with the consolidation of some funds under the economy futures fund, to advocate yet another advisory board. Is this introducing yet another tier of bureaucracy? There is no doubt that calls to action should very much concentrate financial assistance to those businesses involved in developing the goals that the Government has outlined in other statements on economic policy, but there are many business types out there that may not, because of the very nature of the business, be able to comply with the criteria set out under the calls to action. Are those to be excluded from investment entirely as a result of the implementation of this action plan? 

We do note the considerable engagement the Welsh Government have had with industry in developing this new economic strategy and welcome this constructive process, especially as the business sector seems to be fully engaged. It is to be hoped that this consultation process will continue in order to help facilitate the goals set out by the Welsh Government. Whilst, as has been indicated, we welcome many of these proposals, I must agree with both of my fellow AMs Russell George and Adam Price. We note that, however, there are no well-defined targets other than the stated goal of seeing productivity and gross value added per head narrowed to 90 per cent of the UK average by 2030. We urge the Government to give more clarification regarding timelines and targets, so that the Chamber can scrutinise the delivery of those targets. After all, measurability is a crucial part in triggering corrective actions in order to bring plans back on track.