First of all, can I welcome the debate and the way David Melding brought it forward? I hope it's going to be part of a series that the Conservative group are going to bring forward in a constructive manner, as David has today. 

It is absolutely true that we need to acknowledge the importance of Wales’s urban areas as engines of economic growth, learning and activity. More specifically, it is the large urban centres that generate large-scale employment and wealth. We only need to look at London or, on a world scale, New York and Tokyo, or to look at much less well-known cities across Europe, places like Mannheim and Aarhus. This is why I am so keen on the creation of city regions. Whilst the economy of Cardiff city region involves substantial movement from surrounding areas into Cardiff, the Swansea bay city region involves a lot of movement into and out of Swansea and the other parts of the region.

Successful towns and cities have always been at the heart of economic development and the creation of prosperity. Whether as marketplaces or as centres of enterprise, knowledge, culture, learning and innovation, the economy of the country depends on their success. All urban areas should achieve their economic potential and enjoy substantial growth and rising prosperity. However, fairer sharing of prosperity should be ensured, and that's something we lack at the moment. Wealth and opportunity often exist side by side with poverty and isolation, often within the same cities.

The diverse skills and backgrounds of all people should be used properly, enabling everyone to fulfil their potential and excluding no-one. This is important for a caring and inclusive society to be created. This also makes sound economic sense as it will help to increase the long-term growth potential of the economy. Successful places need to be able to attract and retain businesses, based on understanding their requirements. An analysis of successful and less successful places suggests several factors that are crucial to the economic prosperity of towns and cities. The following four factors are the key to economic success: firstly, a culture of enterprise and innovation, where places adapt quickly to new opportunities and everyone can share in the possibilities and rewards of business success, and this includes embracing the opportunities presented by the revolution in information and communications technology, artificial intelligence and also in life sciences; private investment, including access to venture capital, essential for businesses to start up and grow, and to deliver jobs and opportunity for all; people equipped with the skills employers need, and with motivation and opportunity to work—a culture of lifelong learning, enabling people to fulfil their potential and maximising employment opportunities enabling a flexible response to changing opportunities and encouraging companies to come to, and remain in, towns and cities. Far too often, we have companies coming in, taking the grants and then moving out. Also, an efficient and reliable transport system, enabling efficient delivery of raw materials to industry and of goods to market and providing efficient access to jobs, making towns and cities better places to live in and helping tackle social exclusion.

So, what does this mean specifically for the Swansea bay city region? Economic and transport planning needs to be based on the region. We need to build on the strengths of the university. Too many students, including many from the area, move away the day after they graduate, or the month after they graduate. We need science parks attached to universities so that we can use them as innovation hubs and specialise in key economic sectors, life sciences and ICT being two that have great opportunities for growth. We also need an entrepreneurship and innovation centre that can provide a founder and incubator platform for students, young entrepreneurs and investors to get together and ensure that we grow our economy. We need to provide opportunities for businesses to start, but when they start they need access to capital, not just at the start-up stage but at the two important growth stages of small to medium-sized enterprise and then from medium to large. As we know, too often, medium-sized enterprises sell up to companies outside the area and the economic benefits for our area are reduced. Working with the universities and further education colleges, we need to upskill our population.

Finally, transport, which could be a debate in itself and would keep me going for well in excess of the five minutes I'm allowed. But, briefly, we need to reopen railway stations, and I welcome the comments made by the Minister, or the Cabinet Secretary, earlier today. But we need to have bus-rail interchanges. Far too often, the bus stops in one place and, to catch the train, you've got a 10 minute walk—quite nice on a day like today, but days like today are unusual. When it's cold and it's wet, it becomes an unpleasant journey. We need to have safe cycle routes. It's no good having cycle routes that cover 80 or 90 per cent of the journey; they have to cover the whole 100 per cent of the journey. It's a nice safe cycle route as long as you forget about the 100 yards you've got to go on the main road.