7. What measures is the Counsel General taking ahead of Brexit to safeguard the Welsh economy? OAQ54635

Whilst we believe the best way to safeguard the Welsh economy is to remain in the European Union, the Welsh Government is doing everything in our power to safeguard the Welsh economy. This includes using measures such as our Brexit resilience fund, where we announced an additional £6 million funding for this week.

Counsel General, a lot of the economic activity in Wales consists of the work of small and medium-sized enterprises, and I believe they're crucial to our economy. They face a lot of cash-flow and confidence pressures in the light of Brexit and what Brexit may bring. I believe a crucial support for them is the Development Bank of Wales, so, could you offer some reassurance today that that development bank is best placed to offer that support, crucial support, to our SMEs before and post Brexit? 

Yes. I thank the Member for that supplementary. The role that the Development Bank of Wales can play, in particular in engaging with the small and medium-sized business community, is going to be absolutely essential in a post-Brexit world, if that is what comes to pass. Obviously, the Minister for Economy and Transport has significant dealings with the bank. I myself have met with the chair and the chief executive to discuss their arrangements around preparedness and the redeployment of staff if we were to come to that situation.

He says that cash flow and confidence are likely to be two issues that hamper businesses generally, and I agree with that. The Minister for Economy and Transport announced £100 million of capital for the Wales flexible investment fund, which is managed by the Development Bank of Wales, and earlier this year announced more than £120 million further funding for various funds that are manged by the development bank, and the whole point of those is to make funding available in a way that is flexible and appropriate for the particular needs that businesses may have in a post-Brexit world.

We've been clear as a Welsh Government, and we've been clear in pressing the UK Government of this view, that, if we come to that situation, it's incumbent on us to do all that we can to support businesses that can be viable into the medium term, if you like, to get over what will be, inevitably, a very turbulent time. We have not persuaded the UK Government of that view, but that remains very firmly our view.

Of course, we hope for a situation where we have a referendum and a campaign to remain that succeeds, where this risk to those businesses is eliminated. But we have to prepare for a situation in which that doesn't come to pass.

And, finally, question 8—Lynne Neagle.