I do agree with Dai Lloyd that, in terms of both the quantum of the funding and the fact that it's not ring-fenced to Wales, the notion this is a levelling-up fund is an inaccurate description. There is a better way of doing this. There are substantial funds that are available, clearly, but there is a way of doing it that does in fact reflect the needs of businesses and communities in Wales and, as I said earlier in answer to earlier questions, reflect the approach that we have sought to take as a Government of working with stakeholders right across Wales to develop a framework for investment into the future, rather than have something that is discretionary in that sense.

I would say to him I think the way he started his question was right, if I may say, to acknowledge that this is a Conservative Government in Westminster that is pursuing this approach. I think it is possible to make this work on a UK-wide basis with political will in a way that much better reflects the needs of Wales, and that is the vision that we as a Welsh Labour Party and a Welsh Labour-led Government have for regional funding into the future.