Well, it would be surprising if any Government didn't have anything to boast about as a result of 12 years of activity, and I acknowledge that there's been progress on numerous fronts in the course of the last year. Obviously, we all welcome such things as the new treatment fund, the tax cuts that have taken place for small businesses and so on, which are laid out in the foreword to this document, which has a charming photograph of an unhirsute First Minister.

And I certainly would be churlish not to commend the leader of the house for her efforts in relation to the extending of broadband coverage and so on in Wales. Whatever remains yet to be done, significant progress has been made in the last 12 months.

But beyond that, I said last year that 'Prosperity for All' reminded me of a hymn that I used to sing as a boy at Sunday school, 'Tell me the old, old story,' but this year I think we've moved on, and now it's 'There is a green hill far away'. Adam Price, last year, in his speech on 'Prosperity for All' said that it was 'Taking Wales Forward' on steroids—it had gone up from 15 pages to 27. And, indeed, this year's document—the report has gone up to 32. So, given what Rhun ap Iorwerth said about the Government's failure to meet its recycling target, I suppose when these documents come to be shredded, this may well assist them in that aim.

But the reality of the background to this document, of course, is that Wales is still at the bottom of the heap in the income tables of the regions of England and the nations of the United Kingdom. Although economic growth has been better in the last 12 months than it has been in recent years, and we are closing the gap on the north-east, which is next to the bottom on the table, the progress is painfully slow. Gross value added per head in Wales is still stuck at £19,140 a year, and whereas, 20 years ago, Northern Ireland was lower than Wales, now it is significantly above. So, we've had 20 years of Labour Government in Wales and we've actually gone backwards.

Now, I acknowledge at once, of course, that, despite devolution, there are many of the levers of economic change that are not within the power and control of the Welsh Government, and those remain with the United Kingdom, not least business taxes, which, unlike some in my party, I'm anxious to see devolved to Wales, so that we can change the economic climate in a significant way that will, if used imaginatively, open the way to the attraction of more industries to Wales, making it easier to do business within Wales and to produce in Wales.

That, of course, is not fully available to the Welsh Government at the moment, but the mood of pessimism that the Welsh Government continually pours out, particularly in relation to Brexit, is certainly not calculated to inspire confidence in investors, although we have had success stories, of course, like Aston Martin. I think the Qatar Airways decision to come to Cardiff is going to be a potentially massive boost to Wales, and I acknowledge the role that the First Minister played in that respect as well.

But, nevertheless, it's, in general, I think, a story not so much of success but of failure. If we look at the Barclays entrepreneurial index, Wales has the second lowest number of high-growth companies in the UK at 77. The number of private equity-backed companies in Wales has increased from 40 in last year's research to 50, but that's small progress indeed. The number of companies receiving venture capital funding has increased from 23 last year to 32, but the value of this investment hasn't increased—it's stable year on year at only £9 million. So, there's a lot more that's yet to be done. So, the Government sets the tone, more than anything else at the moment, and I think the tone that is being set is not one that is calculated to attract business to Wales. 

I just want to say one more thing in the short time available to me. The Government has added decarbonisation to its list of desirable objectives, but what's happening in China and India is the opposite. They are putting development before decarbonisation and they are not accepting any limits on carbon emissions because they put economic growth at the top of the table. Wales is the poor relation within the United Kingdom. We should, I think, take the same attitude towards this as the countries that, admittedly, are way down the income scale in world terms, but have made massive progress in recent years in improving the material lives of their people.

Wales is responsible for 0.06 per cent of carbon dioxide emissions. Carbon dioxide is not a pollutant. Rhun ap Iorwerth was talking about an Act to improve air quality. I'm totally in favour of that, but carbon dioxide is not a pollutant like sulphur dioxide or nitrogen dioxide. So, I think what we need to do, instead of piling costs upon industry that are unnecessary, and exporting jobs as a result and exporting industry, we should put economic growth at the top of our agenda—[Interruption.] I have read the Stern report, but we can't go into that now. The Stern report is political propaganda by somebody who's not a climate scientist. So, what we need to do is to put what matters to ordinary people first, and in Wales, at the bottom of the income scale, we need to improve their standard of living.