HEFCW have no concerns over the financial status and stability of the institution. Their risk board, I understand, meets next month, and I was given no indication that they will change their attitude and their rating of Swansea University as a result. Clearly, they are engaged with Swansea around the late publication of financial statements. As you will be aware, the university has made a public statement saying that the reasons behind the delay have no bearing on its financial well-being or performance. Rather, the delay is due to the further work being required related to an internal audit, and the ongoing internal inquiry at the university. HEFCW is engaged with the university to monitor the cause of the delay, and it is important that they are then able to address the issues as soon as possible, relating to the internal investigation, after which they will then be in a position to publish their financial statements.

With regard to that process, I have not been presented with any evidence to suggest to me that the processes undertaken by the registrar at Swansea University are the incorrect processes, and HEFCW are satisfied themselves and have reported to me that they believe that the processes undertaken by the registrar and the university are the correct processes. Clearly, when dealing with such sensitive personnel issues related to individuals' livelihoods and reputations, those processes need to be robust and they need to be fair, and sometimes they take longer to work their way through the various stages than perhaps any of us would like. But I am clear and I have not been presented with any evidence that suggests that the processes that have been undertaken have been unfair or have not followed correct procedures.

Can I associate myself with the comments the Member made about the success of Swansea University? The university has performed extremely strongly in a whole variety of ways—academically, and the impact that it's had on the city has been significant. I am confident that the university will continue to play a really, really important role, not just in educating its students but helping us to develop our research capacity to be able to help provide meaningful employment opportunities and business opportunities within the city and the region. I understand from colleagues that issues around the city deal are moving forward.