I thank the Minister for his statement this afternoon. Whilst we welcome all those initiatives outlined in the Minister's statement, including the setting up of the regional investment for Wales steering group, and your extensive engagement with the OECD, it does however beg the question what the Welsh Government has achieved with the billions of pounds received in EU regional funding over the past 20 years. Perhaps you can explain to us and the people in the south Wales Valleys why they are still classed as some of the poorest in Europe.

Surely, Minister, your continued scepticism with regard to the UK Government replacement funding does little to foster good relations with Westminster. Perhaps you can explain to us how you feel that this is the best way forward. And, as Darren Millar pointed out, you have had many assurances in statements from the UK Government that Wales will not receive a penny less. Indeed, it could receive a great deal more once the shared prosperity fund is administered. And perhaps I should point out that Wales, Scotland and Northern Ireland are not alone in awaiting this allocation. Many of the regions of England are similarly placed.

You point out that we will lose out on EU structural funding to the tune of £375 million per year, but fail to point out that we had to comply with restrictive EU rules in its application, whilst the £14 billion allocated by the UK Parliament through the Barnett formula, which, although flawed, comes with no such restrictions and which the Welsh Government is free to administer as it sees fit. May I also say, Minister, that one cannot ignore the irony in your call to respect the devolution referendum, given you and your party's deliberate attempts over the last three years to thwart the decision by the Welsh people to leave the EU in that referendum.

Much of this statement contains reference to initiatives and actions being put in place to create a prosperous and inclusive Wales. Minister, one has to ask, irrespective of Brexit, when will the rhetoric stop and the delivery begin?