Thank you very much for raising that series of questions, and for your generally warm acceptance of the need for the Bill, but obviously you're looking forward to the scrutiny process ahead. I'm sure that we will continue to return to the question as to whether or not a finance Bill is necessary at this point, but as I say, we will keep that under review as circumstances develop and change in future. Just to provide reassurance, I do think the parameters of the Bill are sufficiently clear, especially now that we've just narrowed it down to those four purposes for which the Bill should be used, which I've just outlined in response to Peter Fox. But we also recognise the real importance of the need for proper scrutiny, which is why we've included some real, I think, significant safeguards within the Bill in terms of the procedure.

The Bill would allow for regulations subject to the draft affirmative procedure to be laid in draft for a minimum of 20 days before they're put to the vote. Obviously, if they're approved, those regulations can be made, and regulations can lay for a longer period than the 20 days before being put to the vote. Under the made affirmative procedure, we would look to have that period for 60 days. And obviously, if the vote is lost or the 60-day period expires, then those regulations cease to have effect from those dates, and we've put in place a view as to what we would do should those regulations fall. The safeguards that we've put around the made affirmative procedure in particular, I think, are important, because they would only be used when Welsh Ministers consider the regulations necessary by reason of urgency and only for the four purposes that I've described. An example, I think, would be a need to urgently respond when the delayed closure of a tax avoidance scheme would result in considerable loss of revenue.

The proposed approach within this Bill isn't unprecedented and it won't be unfamiliar to tax practitioners. For example, section 109 of the Finance Act 2003 provides HM Treasury with a bespoke power to make regulations to make immediate but temporary changes to stamp duty land tax legislation, and regulations made under this are subject to provisional affirmative procedure, which is similar to the Senedd's made affirmative procedure, meaning that they must be approved by the House of Commons within 28 sitting days in order to have that permanent effect. So, I think that what we're proposing here isn't unusual or novel in that sense, despite being something that will enable us to respond very quickly to changes. In terms of roles for individuals and parties, I'm sure we'll have the opportunity to explore that in further depth in committee in due course, and on the floor, of course, of the Senedd. Diolch yn fawr iawn.