Can I join the Chair in thanking all those who gave evidence to the committee and to the clerking team of the committee as well in producing the work? It's crucial that we do that. Can I also agree with Nick Ramsay—it's probably the only thing I will agree with him on this afternoon—in that in fact the Chair give a very detailed review of that report. I want to express my huge disappointment that only one person—oh, Andrew R.T. has now just appeared; two people—who actually supported Brexit are in this Chamber to listen to this important debate, because it discusses the future funding for Wales. And UKIP have disappeared. They all wanted this, but when it comes to the actual realities on the ground they don't want to know about it. I think it's disgraceful.

Dirprwy Lywydd, last year, the External Affairs and Additional Legislation Committee published its report on the future of regional policy in Wales post Brexit, and that report highlighted the issue of funding for that future and the challenges that were posed as we no longer became beneficiaries of European funding. During the 2014-20 round of European structural funds, Wales has been earmarked to receive £2.1 billion in funding. I'll repeat that: £2.1 billion. Given that every year Wales receives £375 million of funds from the European structural investment funds during that period for the purposes of regional economic development, it was clear to us as a committee then that we needed to look at these issues in more detail, and I'm very pleased that the Finance Committee took on the role of looking at this in far more detail. The loss of access to these funds could result in a funding black hole for a number of investments in areas such as skills and apprenticeships—Jobs Growth Wales, we know, was funded by European funds—research collaboration and excellence—we've talked about Horizon 2020 and its successor, Horizon Europe—infrastructure and innovation. Indeed, we stand to lose more money than any other nation in the United Kingdom if European structural funds are not replaced. Julie Morgan's highlighted the fact that we get—I think it's 458 per cent of the UK average in Wales. The next one closest to us is actually Northern Ireland, at 197 per cent. So, we are way in the lead in the benefits we have from European structural funds. It's hugely disappointing that we have not yet got clarity on what will replace it.

Now, the principles underpinning the current system of support from EU to member states are based on fairness and need. Regions that have a per capita GDP of less than 75 per cent of the EU average qualify for that maximum level. There are actually only two in the UK that actually met that status: that's Cornwall and the Isles of Scilly, and west Wales and the Valleys. And we know that, if we had remained in the EU for the next period of the MFF, we would have actually had either equivalent funding or the minimum of a transition funding. Now, we've not been given any notification as to whether that will happen. All we've been told is there will be a shared prosperity fund. I'm sorry, Nick, that's all we've been told. Estimates and guesses—we can guess things, but it's nowhere given us in detail as to how that fund will work, what will be in it, who can bid for it. Is it a bidding scheme? Is it an allocation? What will the criteria be? It seems to be that the UK Government has taken the view, 'Well, that's not our priority'.