8. What assessment has the Welsh Government made of how effective the current funding models for public infrastructure projects are in attracting potential investors? OAQ53880

I thank the Member. In funding infrastructure projects, my first aim is always to use the cheapest form of capital first, beginning of course with conventional capital spending. When all public sources are exhausted, we work with potential investors on key infrastructure projects, always ensuring that the public interest comes first.  

Thank you for that answer, First Minister, but as we all know there have been some very significant projects dropped recently, including Circuit for Wales, Wylfa nuclear power station and the tidal lagoon. In each case, these failed because of issues with the funding model. For jobs and quality of life, Wales needs some major public infrastructure projects to actually get off the ground. Going forward, what other funding models are you looking at to attract investment in future projects?

I thank the Member for that question. I can assure her that we will be working very closely with the UK Government on the new funding model that it is developing in relation to the potential future of Wylfa and to see whether there is a model that they can devise that would attract investors back to the table to see whether the pause in Wylfa can be unlocked there. As far as the Welsh Government is concerned—and of course the mutual investment model that we have developed has three key projects that we are taking forward—there's been a very strong interest from contractors and from funders and we look still to developing that model in relation to the new Velindre, in relation to the twenty-first century schools programme, and in roads projects as well.

Finally, question 9, Caroline Jones.