The Minister promised us an update on that economic assessment, but what we've seen is the republication of reports that the Government has previously referred to. We have here the Government's own estimates—this is in the executive summary—that suggest that with a 'no deal' Brexit, the economy will be around 9 per cent smaller in 15 years' time than it otherwise would have been. That comes from, I think, 26 February under Philip Hammond's Treasury report released then. It actually says the UK economy would be 6.3 per cent to 9 per cent smaller, and then it adds on to the section that your Government quotes 'assuming no action is taken'. Isn't that a hugely implausible assumption? Aren't Governments, just like the private sector, going to make changes, take action in response to what happens? You refer back to that forecast, but you don't refer in the same way to the Bank of England forecast, which has been revised twice downwards since that forecast came out. And is it not also the case that the Bank of England—? You say in your report on the strategic risk of 'economic turmoil' that

'Sterling has fallen markedly in value since the referendum and as the prospect of a no deal Brexit has intensified. This could, over time, translate into rising inflation on some products'.

But it hasn't done so; inflation post the referendum peaked at 3.1 per cent, it's now at 1.7 per cent. When the Bank of England has halved its estimate and forecast there might be a 5 per cent hit if we leave with no overarching agreement, will the Minister confirm that is on the assumption that the Bank of England itself responds to those circumstances by raising interest rates from 0.75 per cent to 4.5 per cent? Isn't that wholly implausible and not a sensible basis on which Welsh Government should be planning?