Thank you, Llywydd. And I welcome this opportunity to bring forward today's debate on the UK Government's levelling-up fund and the future shared prosperity fund. These UK proposals represent a new era of aggressive centralisation, one that delivers a very clear message to Wales: 'You'll get what you're given.' It's an approach that provokes division based on an economic rationale that is difficult to identify let alone endorse. Worse still, this top-down throwback to pre-devolution economic policy is a deliberate assault on Welsh devolution. As things stand, Wales is set to have less say over less money. Llywydd, today is an important opportunity for this Senedd to make clear its position on these matters.

In March of this year, the UK Government confirmed its plans to bypass the devolution settlement. It proposes to directly allocate funding for regional and local development in Wales through three UK-wide competitive funds: the supposedly £4.8 billion levelling-up fund; a £220 million pilot for the shared prosperity fund, called the community renewal fund; and the £150 million community ownership fund. This involves using the financial assistance powers of the United Kingdom Internal Market Act 2020, powers that are designed and are being used to usurp functions that sit within the competence of this Senedd and the Welsh Government. The Welsh Government made clear our opposition to the internal market Act, arguing that those powers should only be used in a way that has been agreed with the Welsh Government and the Senedd. The proposed funds are clearly and deliberately designed to systematically exclude the Welsh Government. As power grabs go, Llywydd, this one is about as subtle as an earthquake.