It is a cause of great pride for us in Wales that we have continued with the EMA, which isn't true of some other parts of the United Kingdom. But one thing that hasn't happened, of course, as the Minister is aware, is that we haven't increased the allowance in line with inflation since it was introduced in 2004. So, it has lost real-terms value over that time of almost two decades, and that has accelerated now with inflation increasing at such a rate over the past few months during the cost-of-living crisis.

The Bevan Foundation estimates that the EMA would now be £45 if it had kept pace with inflation. That increase would make such a difference to the 18,000 students across Wales who receive it. I know that money is tight, Minister. It would cost around £15 million, but it would be transformative in terms of its impact on students who are amongst those most deprived in our nation.