Can I thank Dai Rees for his question and, as always, the passion with which he speaks for Welsh steel and iron facilities across the country? I'm going to touch on a number of really important points that he has raised, including investment by Welsh Government and the role of UK Government, but, first, can I say that, in terms of any grey clouds on the horizon, we are in a different place to that which we occupied in 2016? We are not back to the same position as in 2016, and that's largely as a consequence of the investment that Welsh Government immediately offered to Tata, some of which Tata has drawn down and much of which Tata has matched with investment, to ensure that primarily the Port Talbot operation is more efficient and sustainable. In turn, I think it's absolutely essential that no rushed decisions are made, and this was something that I pressed upon Tor Farquhar when I spoke with him on Friday. It was a message that clearly came from the European Works Council as well, on Friday. It's my intention to travel to the Netherlands to speak with executives to ensure the message that no rushed decisions are made and also that the steel footprint of Europe is secured and not dismantled, as far as Tata is concerned.

I'm going to move on to touch on the role of UK Government. Dai Rees rightly raised the important need of a sector deal for steel. This is a matter that I raised with Greg Clark when I spoke with him on Monday. Clearly, a sector deal is needed that can lead to significant investment in the sector. It requires UK Government funding, and it also requires funding from the sector itself. I am hopeful that we can, working together, ensure that a sector deal is delivered. But, that won't be enough in its own right. There are clear and immediate challenges concerning energy prices that need to be addressed by the UK Government. While I welcome the announcement in the 2018 budget of an industrial energy transformation fund, that in itself will not deal with the volatility within the energy markets, nor will it deal with the disproportionately high prices that energy-intensive companies in the UK have to shoulder. Therefore, the UK Government must do more on this vitally important matter.

In terms of the support that we have given and will continue to give, I can assure the Member that we stand ready to help in any and every way, just as we said that we would back in 2016. We have offered £21 million to date to Tata, covering a range of functions and modernisation programmes, including skills training and, importantly, research in development, which the Member pointed to. The strategy, going forward, for steel is encompassed within the economic action plan. We wish to support the industries of tomorrow by ensuring that they are decarbonised, that there is heavier investment in research and development, and a stronger focus on export opportunities. Through the prism of the economic contract and the calls to action, we will ensure that those industries of tomorrow are modernised and competitive. But to do so with maximum effect, we need to ensure that businesses themselves are willing to invest. That's why my message to Tata will clearly be: continue the investment—not just in Port Talbot, where it is vitally needed, but across the entire estate in Wales and, indeed, in England.