Diolch yn fawr, Llywydd. I am pleased to open the debate on our 2022-23 final budget—a three-year budget that has used every lever to strengthen public services, to tackle the climate and nature emergencies, to improve educational opportunities, and to respond to the ongoing cost-of-living crisis.

Yet again, we have felt an incredibly different set of circumstances, and I want to begin by thanking all of those who have contributed to the budget, including colleagues on both my own and other benches for their participation and co-operation. I would also like to record my thanks to our wider partners, who have also helped to shape this progressive budget.

This is a budget that provides nearly £2 billion of targeted green investment to strengthen Wales's response to the climate and nature emergencies; a budget that ensures the Welsh NHS will receive £1.3 billion in direct funding, helping its recovery from the pandemic and its ability to provide effective services in the long term; a budget that provides £0.75 billion extra for local authorities to support social care, schools and the other vital services provided in local communities by local councils; a budget that invests in the quality of school buildings through £900 million of capital funding, with an additional £320 million to continue the long-term programme of learning and education reform; and a budget that responds to the emerging economic impact of rising inflation, including £7 million to continue to support vulnerable people and families across Wales through the discretionary assistance fund.

So much has already changed since we published our plans in December. When the draft budget was published, we were starting to see impacts of the cost-of-living crisis. Since then, we have seen the outlook worsen, contributed to by the unprovoked invasion of Ukraine and the dire humanitarian crisis that is rapidly evolving. Prior to the invasion of Ukraine, the Bank of England's estimate suggested that inflation could peak at around 7 per cent in the spring before beginning to fall back, increasing the negative impacts for households, businesses and public services across Wales. And it was clear that we had to act. Building on the actions within our draft budget, I was pleased to announce an additional £162.4 million in 2022-23 within this final budget as part of an additional package, worth more than £330 million, to respond to the cost-of-living crisis.