Can I thank Russell George for a number of very persuasive suggestions for improving the Business Wales model as we move forward? There is a major challenge, though, in maintaining the financial support for Business Wales services if replacement funding is not guaranteed by the UK Government, in the form of ensuring that every penny is passed to the Welsh Government to spend on vital business support services. That challenge is very real because we face, after 2021, a budget reduction of something in the order of 48 per cent for Business Wales if that replacement ERDF funding is not secured. That, in turn, would have huge implications in terms of the number of businesses that we'd be able to support and give advice to, the number of jobs that could be created, and the number of jobs that could be sustained. So, I am hopeful that the UK Government will clarify its position in terms of replacement funding and will guarantee that we, as the Welsh Government, will secure it.

I think the points made concerning the work that Business Wales and the Development Bank of Wales do together is very important. The suggestion of a merger is something that I and others have considered in the past. It's certainly something that I keep an open mind to. But I'm also concerned with the close working relationship that Business Wales has with Careers Wales. Again, we looked at how we could improve the working relationship between Careers Wales and Business Wales, and we are pleased that they are working incredibly closely now. I'm not minded to suggest at this point that full mergers would be to the benefit of the end user—the customer, the business that accesses support—but it's something that I think could and should be considered on a regular basis.

In terms of high-street banks, I think Russell George makes an incredibly important point. It was something that I referred to towards the end of my statement. There is an absolute need to ensure that high-street banks do signpost businesses to Business Wales if they believe that those businesses could benefit in any way, shape or form from the advice and support that is offered. The important point, though, for Business Wales, is that they need to ensure that every high-street branch is aware of the Business Wales service. That form of collaboration is going to be vitally important in order to raise the brand awareness of Business Wales as well, and this is something that Russell George pointed to as well. I think brand awareness has come on incredibly well in recent times, but in an age in which we are bombarded with a plethora of messages and brands every moment of every day, it's important that the momentum that's been built up by Business Wales is not lost.

Now, Russell George mentioned the feedback of businesses. Now, the feedback of businesses concerning Business Wales's customer survey is very impressive indeed: 90 per cent of businesses were satisfied with the level of knowledge and expertise of an advisor; 89 per cent were satisfied with the level of professionalism; and 86 per cent would recommend the service to others. However, I recognise the need to ensure that there is absolute consistency right across Wales. So, as we press forward with regionalisation of services such as Business Wales, we will not stop looking at how we can ensure a consistent high-quality service across every part of the country.

Russell George referenced the FSB's report, which I fully support. I think the importance of placemaking in business support considerations cannot be overstated. The economic action plan had placemaking right at its heart, with the focus on the foundational economy, with the desire to see business support not focused on simply buying jobs or creating jobs, but contributing to other priority areas, such as decarbonisation, such as the strength and resilience of the high street, and, of course, the health and well-being of the workforce. So, as Business Wales proceeds into the future, and its new operating model is developed and fully implemented, I would expect Business Wales to operate on the basis of the economic contract being used, and the economic action plan prioritised being fully respected.