Can I thank the Member for his contribution and for generously welcoming the statement today? I'm very pleased, in particular, by his recognition of the public investment with a social purpose ethos that is right at the heart of the economic action plan. Investment clarity and simplicity was something that many, many business stakeholder groups called for. I'm pleased that we've responded with the establishment of the economy futures fund, and that Business Wales will be working more closely with Careers Wales, so that we will have a far clearer and far simpler method of drawing down not just financial support but also advice from businesses.

I should assure Members that the ministerial advisory board will not have a role in determining funding applications. There will be no additional bureaucracy associated with the establishment of the ministerial advisory board with regard to any applications that come forward from businesses for the economy futures fund, or any other fund for that matter. The ministerial advisory board is there to provide challenge and advice to us as we implement further other parts of the plan and as we test its impact.

One of the early pieces of work that the ministerial advisory board will be undertaking will be a review of the impact of the economic contract. It's absolutely vital that we're able to demonstrate that the contract is indeed leading to improvements in terms of quality of work and working practices, that it is leading to an accelerated pace of decarbonisation within the workplace, and that it's contributing to growth—either directly to a business concerned or within the supply chain. And we have fully engaged with the business community—the Member is right—during the process of designing the plan and designing the implementation of it. I can assure Members that any business failing to comply with the economic contract—while they may not be able to apply for direct financial support in that instance, what they will be given is support and advice in order to improve their working ways so that they can come back round to the door and reapply.