Well, Llywydd, I'm not going to take any lectures from the Labour Party when it comes to running the economy. Let's not forget that it was the Deputy Minister for Climate Change that said—and this is what he said—

'For 20 years we’ve pretended we know what we’re doing on the economy—and the truth is we don’t really know what we’re doing on the economy. Nobody knows what they’re doing on the economy.'

That's the verdict of one of your own Government members, so I'm not going to take any lessons from your party when it comes to running the economy.

Now, as we bounce back from the COVID pandemic, we have an opportunity to do things differently and one area that I hope will be better prioritised is in relation to entrepreneurship and developing start-ups. There is some promising news here, as the number of business start-ups in Wales has risen by more than half since December last year, which means that people clearly believe the market can support new businesses. We need to build on this and ensure that start-ups have the support, guidance and access to finance that they need. Recently there have been calls for the development bank to offer more help to businesses and Professor Jones-Evans is right to say the Welsh Government's bank could play a bigger role in the microfinance market.

Now we also need to see more action to tackle the skills gap in the Welsh workforce, so there needs to be a much greater priority given to investing in research and development. Wales has suffered the largest nominal cut out of the four UK nations in relation to research and development funding, and that does not bode well for the future. And the Welsh Government has finally come clean and confirmed that it's no longer implementing the Reid recommendations now in full. And Professor Richard Wyn Jones is right to say that the Welsh Government has abandoned a strategy aimed at the long-term transformation of the research and innovation landscape. As we move forward, we must be looking to the future and investing in emerging technologies, but that cannot happen if the Welsh Government doesn't adequately fund research and development. 

Llywydd, we are at a crucial point as we navigate a new normal post COVID, and the Welsh Government must use all the tools that is has at its disposal to stimulate and develop the Welsh economy. The Minister has announced a series of strategies and plans in the past few months, and it's vital that that activity is co-ordinated, streamlined and monitored to ensure that they're not duplicating each other or adding more governance and bureaucracy, but instead delivering real outcomes for businesses. And we need to hear more about how the Welsh Government is nurturing and encouraging start-ups and is also working to develop the next generation of entrepreneurs.

Therefore, in closing, Llywydd, we have an opportunity to change our mindset in how we approach Welsh economic policy and I hope we do so for the sake of our businesses and for the sake of our economy. I look forward to Members' contributions and hearing their ideas for how we can stimulate and support our businesses here in Wales and I urge Members to support our motion.