I thank the Minister for bringing forward these regulations today. The Welsh Conservatives will be supporting these regulations as we have been calling for some time for a land transaction tax holiday here in Wales to mirror the stamp duty holiday that was originally introduced, primarily in England, as a mechanism to energise the housing market during this time of the pandemic and lockdown.

The Minister knows from my previous questions to her about my concerns regarding the thresholds that have been decided on in Wales—£250,000 is the level up to which the tax-free rate applies. This is considerably less than the £500,000 level across the border in England. For many parts of Wales that might not be so relevant, but certainly along the border areas, and particularly in south-east Wales, I am concerned that this could cause distortions in the market. So, along with my previous questions to the finance Minister and to go along with what you said earlier, will you give that commitment that you will keep this process under review?

I'm pleased to hear that the Finance Committee does also keep the door open on looking at the second homes issue, and other property issues as well. Key to this land transaction tax change is to energise the property market, and we must make sure that that remains competitive within Wales as across the border in England.