Diolch, Dirprwy Lywydd, and I'm pleased that the Minister has brought forward a statement on how the Welsh Government is supporting the foundational economy today. Of course, the foundational economy is so vitally important to how we live; as has been said, it covers everything from the social care that's available in our communities to the food we eat, and so it's really encouraging to see the Welsh Government embedding the language of the foundational economy and its principles into its economic policies.

Today's statement has highlighted some of the projects funded via the foundational economy challenge fund, and I know that the impact of that funding has led to some really innovative projects being developed. The statement makes it clear that a £1 million backing local firms fund will build on the success of the challenge fund, which is really positive. Perhaps now is the time, therefore, to review the challenge fund to ensure that there is genuine value for money and that local economies are being transformed as a result of that investment. Therefore, can the Minister tell us how the Welsh Government is monitoring the effectiveness of spend via the foundational economy challenge fund and can he also confirm that he will be publishing an assessment of those projects that have received funding? And can he also clarify whether the backing local firms fund will now replace the challenge fund or, indeed, work alongside it?

Today's statement talks about progressive procurement, and that's something that the Minister knows I'm keen to see delivered right across Wales. We need to see improvements to our procurement practices to ensure small businesses are able to fairly compete for contracts. The Minister says he's determined to push forward initiatives that ensure that our public money is spent here and to champion a wider recognition of the role that the foundational economy plays in helping to sustain and strengthen our unique ways of life, and I'm pleased to hear that. Perhaps he can tell us a little bit more about the NHS Wales foundational economy procurement programme, and given that social value is now a mandatory criterion in many NHS contracts, can he tell us how he'll be monitoring this to ensure that contracts are awarded to the right businesses?

Of course, in order to identify opportunities to localise spend, it's crucial that business support is indeed reviewed. The previous Minister believed that there should be a review of business support, including Business Wales, to ensure that Welsh companies could fulfil public contracts and supply voids. Therefore, can the Minister confirm that that review is taking place, and if so, can he also share with us the outcomes of that review?

The Minister will be aware of the Federation of Small Businesses calls for a foundational economy lens to guide policy making, and I believe there's merit to this idea. One aspect of their lens is to encourage larger businesses to support small and medium-sized enterprises in sectors that are dominated by large firms that have disproportionate influence. The example they use is, of course, in the food industry, and today's statement also considers the importance of the food sector. For example, I'm pleased to see that Hywel Dda University Health Board has been funded to explore development of a freeze-cook facility targeted at local food producers. It's so important that we help local producers in the region and also retain more of the added value from local production.

The Minister will, no doubt, be aware of the Pembrokeshire food park in Haverfordwest, which is a great example of a way of providing opportunities for producers to acquire plots to develop food production and processing facilities that will create added value, and, indeed, create new jobs in the region. Can the Minister tell us what the Welsh Government is doing to develop a foundational economy lens? And can he also tell us what the Welsh Government is doing to support projects like the Pembrokeshire food park and to ensure that good practice like this is being rolled out in other areas?

The Minister may be aware of the report published by the Bevan Foundation last year, which focused on the capacity and potential of businesses in three communities in the south Wales Valleys: Treharris in Merthyr Tydfil, Treherbert in Rhondda Cynon Taf, and Cwmafan in Neath Port Talbot. That report found that support needs to be targeted to microfirms with much more effective communications and networks between businesses themselves and between business, local government and indeed Welsh Government. And so I hope the Minister will take the opportunity today to tell us more about how the Welsh Government is strengthening its communication and networks with businesses, particularly in those areas where local economies are weak.

The Minister will be aware of the work done by Preston City Council in building community wealth, which has successfully promoted inclusive growth of the local economy since 2012, and we can learn lessons from the way in which others are developing the foundational economy. As the Welsh Government is also a significant owner of land and property, it's vital that it's using those assets to deliver social and environmental benefits. Therefore, can the Minister tell us what work has been done to examine how the Welsh Government can use its own assets to develop the foundational economy in Wales? And, as the Minister has reminded us today, the foundational economy accounts for four in 10 jobs and £1 in every £3 that we spend, so we're not talking about small amounts of money here. Of course, the COVID pandemic has impacted resilience in some communities, and it's vital that we understand just how much of an impact it's had on the foundational economy. So, perhaps the Minister will agree to publish an assessment of the impact of COVID-19 on the foundational economy.

Therefore, finally, Dirprwy Lywydd, can I thank the Minister for his statement and say that I look forward to hearing more about how the Welsh Government is developing and scaling up the foundational economy here in Wales? Diolch.