Diolch, Dirprwy Lywydd. I wanted to bring to the attention of the Assembly these two reports, published in quick succession, at a juncture where I believe Wales has some critical choices to make. The first, published jointly by the House of Commons Business, Energy and Industrial Strategy Committee and the Work and Pensions Committee on 6 May this year, opens with this stark paragraph:

'Carillion’s rise and spectacular fall was a story of recklessness, hubris and greed. Its business model was a relentless dash for cash, driven by acquisitions, rising debt, expansion into new markets and exploitation of suppliers. It presented accounts that misrepresented the reality of the business, and increased its dividend every year, come what may. Long term obligations, such as adequately funding its pension schemes, were treated with contempt. Even as the company very publicly began to unravel, the board was concerned with increasing and protecting generous executive bonuses. Carillion was unsustainable. The mystery is not that it collapsed, but that it lasted so long.'