First Minister, a cap of 3 per cent will see profits to KeolisAmey in the region of between £100 million and £150 million from this contract. Whether you pay them now or in five years' time means that the Welsh taxpayer is putting money in the pockets of private company shareholders instead of reinvesting it back in our own rail network. That's £150 million that could have been spent on better trains, on more stations, on cheaper tickets.

Now, the Scotland Act 2016—[Interruption.]—contained a clause that explicitly allowed for the Scottish Government to procure a public sector rail operator. [Interruption.] One year later—