The Development Bank of Wales

Part of 1. Questions to the Minister for Economy and Transport – in the Senedd at 1:58 pm on 13 February 2019.

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Photo of Mark Reckless Mark Reckless Conservative 1:58, 13 February 2019

We were delighted on the Economy, Infrastructure and Skills Committee to conduct our annual scrutiny of the Wales development bank last week. Last year, I hosted a lunch at the Assembly for Giles Thorley and a number of his senior team. I've been very impressed with their capability, and optimistic as to what the bank is going to achieve, building on Finance Wales. The Minister set out the two possible things that might happen if the bank, as we hope, makes more money from interest and equity investments than it may lose on those loans where there's a degree of risk, and not all will succeed. However, what is the Government's policy as to what proportion of those moneys are going to stay with the bank versus come back to Government to fund other priorities, and will that depend on how successful the bank is?