Well, I'm glad that somebody here recognises the hard work and the success of the scheme, but also, apart from supporting those students, our student support package has seen a massive increase in the new applications for part-time and postgraduate students, and that's proof that this reform is working. It's delivering for social mobility, it's delivering for economic opportunity, and it is delivering, crucially, for all students no matter what their background is.

But, Presiding Officer, there is always more that we can do, and so today I can confirm a new bursary scheme to attract Welsh students to do their Master's degrees here in Wales. These bursaries will be aimed at prospective Master's students in subject areas where we know that there is a high demand for postgraduate qualifications. Providing incentives for graduates to remain in or to return to Wales is one of my priorities in meeting our economy's skills needs. This scheme will support our universities to incentivise the recruitment of the most talented Welsh students, in line with our economic action plan and my response to the Diamond review.  

I've also made a commitment to increase funding to HEFCW in each year of this Government, subject to the usual processes. The allocations I have made to HEFCW since the last election have increased from £117.5 million in 2016-17 to more than £151 million in 2019-20. This increase in funding will clearly continue as long as we are able to do so, and it demonstrates our commitment to the long-term stability of the sector in Wales. And, Suzy Davies, I have no intention of showing a bit more ankle, or indeed, any other part of my anatomy, when responding to the Reid review. I have made £6.6 billion available to help support institutions to deliver on that agenda.

Now, since coming into office, I have set clear expectations of the sector and HEFCW in my annual remit letters. I have raised our expectations of what Government investment should deliver from the partnership that we have with HEFCW and the sector. This year, this includes asking the council, working with other administrations where appropriate, to consider whether arrangements regarding academic integrity and reporting on fee income, should be strengthened, and I have asked for a report on this. I've also used my remit letters to encourage greater openness and transparency on senior pay, but also on pay equality and gender pay and other measures to encourage fair working practices. We have already seen progress in reporting on these. Our reporting is more transparent than it is across the border, and I would hope that Members across the Chamber would recognise the work of the sector as good, civic actors.

I'm pleased with the progress that our institutions have made on paying the real living wage to all directly employed HE staff and, crucially, towards implementing it across their outsourced HE activity. I'm also very proud that Welsh universities are the first whole sector to sign up to the code of practice on ethical employment in supply chains.

Rather than the picture that has been painted by some Members this afternoon, we have provided HEFCW with enhanced responsibilities in relation to the regulation of tuition fees, monitoring compliance with commitments made in institutions' fee and access plans, and assessing the quality of provision and financial stability through the adoption of a financial management code, which nobody has seen fit to mention. In addition, I have discussed with HEFCW the work they have in hand to strengthen governance arrangements in HE in Wales working with Universities Wales and the chairs of those universities, and I'm looking forward to an update when this work has been progressed significantly.

But, of course, looking to the future, our post-compulsory education and training reforms will establish a new funding and regulatory body that will oversee higher education, further education, apprenticeships and sixth forms. And the commission will have powers related to the oversight of public funds awarded to universities, higher education providers and other publicly funded PCET providers. This will, of course, include ensuring the financial sustainability of our universities. The commission will also have a key role in ensuring that the interests of our learners and their sponsors are protected, that students continue to have a voice in institutional affairs as well as safeguarding the reputation of the Welsh PCET sector through regulatory levers that it will have at its disposal. And given that there is a great enthusiasm in this Chamber this afternoon for regulatory reform, I look forward to enjoying the support of the Chamber when this Bill comes to the floor.

Universities will need to continue to act transparently in the eyes of the commission with regard to public funds, as is currently the case. But I've also been clear on the need for the commission to take due account of the need to preserve institutional autonomy and academic freedom. We must recognise that universities are and will continue to be autonomous bodies despite their vital role in delivering a public service and generating public value. There are, Presiding Officer, some significant challenges ahead, and we need to make sure that we have a system that will enable us to meet those challenges, identify and make the most of the opportunities that arise whilst ensuring that we continue to have high-quality, high-performing, sustainable institutions, and that's why those reforms will be undertaken by this Government.