The Minister can make as many excuses as she likes about what happened in 2019-20 and 2020-21, but the reality is that the Government has failed to use an opportunity there to invest in the future of Wales. I'll quote Gerry Holtham again:

'Failing to borrow in two successive financial years seems unambitious. Not knowing the capital allocation is not a decisive reason because they know what it will be within a 10-20% error margin and could plan for contingencies.

Does the Minister disagree with his assessment and analysis, I wonder? We know there are significant projects that need to be under way—the metro, retrofitting houses, there's a long list—and with interest rates at an all-time low, now is the time to invest. In contrast, looking to Scotland, since the Scotland Act 2012, the Scottish Government has borrowed £1.6 billion in capital and plans to raise a further £300 million in low-interest-bearing debt by the end of the current financial year. Will the Minister admit to the reality that an unwillingness to fully utilise already inadequate fiscal powers is further evidence that this Labour Government lacks ambition for Wales?