Diolch, Dirprwy Lywydd. Can I begin by saying that the Welsh Government very much welcomes this debate from the Welsh Conservatives? And, obviously, whilst we recognise that the coronavirus pandemic is, obviously, a public health and an economic emergency, public health does, undoubtedly, come first. This public health crisis is not over yet. As the First Minister has said, through the public's extraordinary efforts, we've succeeded in brining the fire of coronavirus under control. But, Dirprwy Lywydd, that fire is certainly not out, and the worst thing that could happen to the economy of Wales and the UK is a second spike, which is why any rational approach has to be cautious. And we've seen very worrying spikes in places like Florida and Germany just this week, and, of course, just this afternoon, New York has announced that it will introduce quarantines involving people from parts of the US where there is still a significant problem with coronavirus.

So, as I've said on numerous occasions, Dirprwy Lywydd, we strongly welcomed the support schemes that the UK Government has introduced during the course of this crisis. Wales is part of the United Kingdom, and it's only right that we receive a fair share of support for this non-devolved mater. And we sought to work very closely with the UK Treasury and with the Department for Business, Energy and Industrial Strategy, as well as with Scotland and Northern Ireland, throughout this economic crisis to draw on the strengths of being part of that collective whole. But the UK Government must—absolutely must—avoid a cliff edge when it comes to ending the furlough and self-employment schemes, and I think we all accept that the full impact will not be revealed until the autumn, when these are scheduled to be wound down.

Now, we're doing all we can to mitigate the effects, and our £1.7 billion package of support means that Welsh businesses have access to the most generous and extensive help for businesses anywhere in the United Kingdom. In addition to those sectors and those business types that have been assisted so far, we will soon be launching a start-up bursary. To date, more than 60,000 grants have already been paid to businesses in Wales, and the Development Bank of Wales's loan facility, created to help deal with the impact of the virus, has already allocated almost £100 million to more than 1,200 businesses. In addition, Dirprwy Lywydd, the second phase of our Wales-only economic resilience fund opens for applications on Monday. I should also point out that, here in Wales, small businesses with premises with a rateable value of less than £12,000 already receive small business rate relief. They've been essential lifelines that have safeguarded thousands of jobs.

But that said, we need to complement our package of business support by providing crucial assistance to people who might have lost their jobs or training opportunities because of the pandemic. This is particularly relevant today, given the written statement that I have issued regarding Laura Ashley in mid Wales, and, of course, we will be offering every available support to the affected workforce there.

Now, as I announced last week, we've taken steps to assist people who face job loss by offering a comprehensive package of support that will allow people to upskill and find new employment, so that we can protect a generation, and particularly the most vulnerable in our society, from the potential scarring of unemployment, and we'll use £40 million from our economic resilience fund to deliver this. But we also, Dirprwy Lywydd, need to ensure that this package dovetails with any initiatives that the UK Government might introduce, and we need to avoid, if at all possible, any duplication.

So, it's absolutely crucial that the UK Government also provides further support for people who are currently furloughed and those at risk of losing their jobs. And we'll be watching very closely when the Chancellor of the Exchequer presents his anticipated statement before Parliament ceases next month.

Now, of course, our capacity and our ability to get money to the front line has been constrained by the rigid financial rules imposed by the UK Government, as Helen Mary Jones has identified. There are strict limits in the extent to which we can carry forward funds from one year to the next, and we have a maximum reserve of just £350 million. Furthermore, around £700 million comes to Wales now from the EU, and whereas there are short-term reassurances from UK Government on aspects of this, we need to protect our interests in the longer term funding decisions, particularly in respect of a possible shared prosperity fund and future agricultural and rural development funding. Indeed, more than £0.25 billion of European structural and investment funds have been redirected to fund health crisis interventions during this pandemic.

Now, the risk of the EU leaving the transition period without a deal on our future relationship with the EU is very real indeed. All credible evidence suggests that there will be significant adverse economic consequences of such an abrupt and drastic change to our trading relationship with the EU. So, we'll hold the UK Government to promises made that Wales will not be a penny worse off as a result of leaving the EU and that the Welsh Government will continue to be responsible for deploying these funds in Wales.

Now, while we continue to wait to hear about that particular funding, our transforming towns agenda does continue at full pace and, earlier this year, we set out a further package of support for town centres worth nearly £90 million. I believe that this support is more important than ever before. Last month, we also pledged support for business improvement districts in Wales to support their running costs during the coronavirus pandemic.

And in the context of reopening our town centres post COVID, transforming towns funding is already delivering green infrastructure schemes. In total, they'll be worth around £9 million across Wales when completed. The funding is also supporting our coastal communities through the latest round of the coastal communities fund, which opened just last week. That fund is providing industry-leading expertise and finance for local authorities to address the issue of those empty and neglected properties that blight our high streets. Just last weekend, we also announced a further £15.4 million for COVID-proof travel, making it safer and easier for people to get around their local towns. 

Towns across Wales—right across Wales—are benefiting from the range of transforming town programmes, including, I've got to say, Dirprwy Lywydd, the north Wales coast. Colwyn Bay is benefiting from over £3 million of regeneration investment, Rhyl is seeing huge investment of around £20 million, and, in Holyhead, a project worth more than £4 million has transformed the historic market hall. In addition, in the South Wales Valleys, the taskforce that's chaired by the Deputy Minister has met regularly since the start of the COVID-19 crisis, and is currently reviewing priorities in light of this pandemic.

Programmes such as the empty homes grant scheme and the foundational economy challenge fund will play a crucial part in the coming months and years and we'll be drawing out the learning from these projects to inform future policy thinking and also to feed into recovery priorities. 

Now, the impact of coronavirus is vast and wide-reaching, but it could be a moment for fundamental change in our economy so that we can, as I've said on numerous occasions, build back better to ensure that our future is fairer, more inclusive and more sustainable.