If I could start on the role of co-operatives, Wales was hit hard by the pandemic due to its relative income poverty compared to other UK countries. We know that the poorest communities have been affected most, with those in low-paid and precarious employment being most likely to be furloughed or lose their jobs. As we look to recover from the economic damage of the pandemic, we should be seriously looking at reconstructing the economy in a meaningful way to achieve long-term security, prosperity and fairness for households and workers. I believe, and I know many Members in this Chamber believe, that co-operatives must play a central role in this, at the forefront of our post-pandemic recovery. I therefore ask the Minister how he envisions the role of co-operatives in this reconstruction mission to create a more prosperous and resilient economy. Co-operatives are almost twice as likely to survive their first five years, compared to other types of businesses. They're also known to bring increases in productivity, workers' rights, job security and overall employment figures. Italy's Marcora law, which facilitates employee buy-outs, saved more than 13,000 jobs between 2007 and 2013, during the financial crash. 

Looking at a case study from my own region, BIC Innovation Ltd, a consultancy firm that has offices in Bridgend, was supported by the Wales Co-operative Centre to restructure towards employee ownership. Since becoming employee owned, the firm has quadrupled its workforce over the three-year period. The founding director of BIC Innovation Ltd believes that being an employee-owned business has attracted new talent with diverse perspectives who provide different ideas, delivered improved services for clients and added value to the brand. Providing greater support for more co-operatives would clearly allow us to make gains, not just in employment figures, but in fair, meaningful work, and allow us to build community wealth as part of our recovery. 

In June 2021, the Welsh Government committed to doubling the number of employee-owned businesses in Wales, and I wholeheartedly support this objective. But there is a point that I wish to raise with the Minister. In a scrutiny session of the Economy, Trade, and Rural Affairs Committee with the Development Bank of Wales, there were uncertainties as to what additional funding would be available for the bank to pursue more employee buy-outs. If that additional funding isn't available, is the Minister confident that he will reach his target, or does he believe that additional funding is needed?

On diversity and fairness, it's widely accepted now, as we look to get people back into employment following restrictions, job losses and furlough, that young people, women, disabled people and ethnic minority communities will face particular difficulties in trying to re-enter the labour market, or when now entering for the first time. Within these groups, the impact of poverty, low household income and lower levels of education, as well as other disadvantages, will create further challenges for these individuals.

The disproportionate economic effect that the pandemic has had on these communities clearly shows that current policy is not enough to create an equal and fruitful economy for all in Wales. So, as we look at restructuring the economy to make it more equal, I wonder how the Minister, as part of this mission, intends to address the structural issues at the core of our economy that have allowed these groups to be more susceptible to unemployment and economic discrimination, and, moving forward, how we can ensure that our economy is more equitable.

Finally, on a green circular economy, the Minister has noted that one of the other outcomes of this mission should be a greener, more circular economy. We know that the jobs involved in these green, science, technology, engineering and mathematics industries are often dominated by non-working-class white men. What more will be done to ensure that the demographic gap in this type of employment does not worsen as we restructure our economy to make it greener? How can we ensure that women, ethnic minority communities, those from working-class backgrounds and other underprivileged groups are not left out of this green revolution in Wales?

And in keeping with my theme on fairness and improvements in employment, as we push for the green sector to grow, once again, I ask whether the Government will consider following the Scottish Government's lead in establishing a just transition commission to oversee the changes in our economy to ensure that no-one is left behind. Diolch.