I thank the Member for his comments and questions. In my statement, when I referred to the terms of business changing, this is exactly what we're talking about—the terms of business for importers and exporters. With the recent fall in the pound and then the partial recovery, the interest rate rises are still locked in, and the spike in UK terms is very different to other parts of the world facing similar global pressures. Our challenge is that it is now much more difficult; there is more cost, unavoidably so, in being an import or an export business. The challenge, though, is that it is still possible to do that, but people need more support and more help. They've also already recognised that they need to take on more people to actually deal with the paperwork that they now have to do to understand how to get goods to and from places, but also the extended time frames for goods to be delivered, and, frankly, less reliability.

When it comes to business loans and the rise in rates, it's one of the things that business organisations have been very keen to tell me about recently. They've already seen a significant increase in the rates that they're going to need to pay. That means that, actually, there will be less investment, and, more than that, there are some people who are thinking again about whether they want to invest at this point in time. Part of what we want to try to do is to still give people a good reason to invest in the future of the Welsh economy.

That brings me to your point about work in the Valleys. I do remain committed to seeing real improvements, not just words. It's one of my big priorities in the department to get a future structure that, as I said in the statement, brings together budget holders and decision makers. The Organisation for Economic Co-operation and Development work, within the current contract, is designed to get us there, to look at the current structures that we have and how do we get something that can work best with the particular challenges that exist in Valleys communities. I spoke to your colleague Vikki Howells earlier, and she's keen for Valleys constituency Members to have a further conversation with me. I'd be very happy to facilitate that, this side of the half-term break ideally, to make sure we can have not just a conversation but to keep you updated on the detail of the work that we're looking to do and to make sure the OECD work works for your communities and other Valleys ones as well.