Indeed. Can I thank Suzy Davies for her questions? She makes a very important point about the collaboration that's taken place in Swansea bay between higher education and the steel making of the region, and also some of the spin-off companies and the supply chain companies as well. It's my understanding that that collaboration will be maintained. However, we will be seeking to engage with the company and the trade unions to seek further information about the detail of the announcement, to ensure that that collaboration continues into the future, and to ensure that we secure iron and steel making in Wales for the long term.

Now, I think it's worth saying, in terms of the time frame, the joint venture is subject to regulatory examination by the authorities that include the European Commission and, until closing, both joint-venture companies are going to continue to operate as separate companies and as competitors, but, during that period, we expect to be able to take forward our discussions over the support that the Welsh Government can give to Tata insofar as the Welsh-based operations are concerned, but I would welcome the announcement of an extension of the employment pact to 2026, with a commitment to seek to avoid compulsory redundancies as a result of the joint venture.

In terms of the other commitments, Tata has committed to invest in a life extension of Port Talbot's blast furnace 5, which will proceed this year. I think, in general, this is a very, very positive announcement for steel making and all of the associated steel sites across Wales. However, we remain committed to ensuring that the long-term future of steel businesses in Wales can be guaranteed.