I welcome this very important statement and I welcome the fact that the Cabinet Secretary is setting out the principles that he sees will be used in future regional investment in Wales. I just think it's very important to set up these principles now because we've been waiting far too long to hear the details of this shared prosperity fund. And, again, I think that would be something quite simple for the Government in Westminster to do, to make real efforts to consult and find out exactly what's going on and end this uncertainty. I think it's very important that, as the Cabinet Secretary says, confidence is given to those people who are running projects and are making long-term plans, that they know that there is certainty from what the Government here plans to do. I'm very glad, too, that the Cabinet Secretary has pointed out the huge benefits we have had from European structural funds. Of course, we have had benefits from other European funds, such as Erasmus+ exchanges, Horizon 2020 and of course the European Investment Bank, which has brought huge benefits to Wales. So, I'm sure that the Cabinet Secretary would comment on the benefits of those other European benefits.

Before going into other details from the statement, would he agree that it's absolutely crucial that we maximise the use of the current EU funds before we actually do leave the EU? Because those funds are still being distributed up to the point that we actually leave the EU, and they will be continuing beyond the date, well beyond the date, that we leave the EU—probably up until 2023.

I know that the Cabinet Secretary agrees that we do have the history and the expertise here in Wales. We have the expertise of having been involved in structural funds for so many years, and of course our knowledge and the way we've operated the structural funds have changed over those years, moving from a multiplicity of smaller projects to fewer, larger projects. And I think it is really important that this experience that we've got is maximised to ensure that we get the maximum benefit post leaving the EU. So, I do welcome the steering group, and I think it's crucial that we use all the expertise that is here in Wales. I also welcome the £350,000 from the European transition fund. I think that the Cabinet Secretary is thinking creatively ahead, trying to see what we can do to minimise the damage that will be done by leaving Europe.

Finally, I would particularly welcome his commitment to multi-annual funding. I think we've all had experience of the problems of short-term funding, which so many people have suffered from—so many different projects. And that has been one of the great benefits of the European funding, that it has been multi-annual. So, I particularly welcome that commitment from the Cabinet Secretary.