I would love to encourage spending and growth and confidence, but I think that the Chancellor has poured a bit of cold water on that today in terms of announcing a freeze on the pay of public sector workers—public sector workers who spend their money in the local economy and now will be even more concerned about their future finances as well. So, I think that this will put the brakes on any spending that they might have thought of bringing forward as well.

But my approach to taxation is one that is entirely transparent and inclusive. And you know that the Welsh Government has published its tax principles, and that's about creating taxes within the context of the Well-being of Future Generations (Wales) Act 2015, creating taxes that are fair, and creating taxes that are simple to administer and so on. So, our approach is very clear and I don't think that there's anything that people should be fearful of, because we're very focused on creating a progressive agenda.