Diolch. I welcome the motion today and would like to thank the Finance Committee for its work and for the report on post-EU funding arrangements, but also to all of those Welsh partners who have engaged so strongly with the inquiry as well and provided such clear evidence. It really is a timely and important contribution to the debate on what is a critical issue, as the UK Government's approach to post-EU funding is not only a deliberate and unacceptable encroachment onto a devolved policy area, but it's also costing Wales jobs and growth.

In its autumn statement, the UK Government appeared to be cutting the UK shared prosperity fund by £400 million in 2024-25 and showing no expenditure in this financial year. It did that despite Welsh investment plans for the fund having been submitted during the summer for projects that should have already started commencing. But I have seen that letter today that has been sent to the Chair of the Finance Committee and we'll look into this further, but it does seem, from what the letter suggests, that the funding has now been subsumed into the DLUC departmental budget in the UK Government, but to what extent it's fully additional we'll still have to explore and get to the bottom of, I think. But I think that just really speaks to the lack of transparency that there is on the part of the UK Government in terms of spending, and how difficult it is, sometimes, to get clarity and how important it is that the UK Government just improves the communication with devolved Governments, especially in areas where they're seeking to exert influence that cuts across devolved competencies.

I think that these actions just demonstrate a real and clear failure of the UK Government to deliver its manifesto pledge to replace EU funding in full. That's just not even up for debate, it's an absolute fact, because, had we remained in the European Union, we would be receiving an additional £375 million every January. But the UK Government has netted off the tail funding that we have in terms of years coming post Brexit. So, it's just unarguable that there is less new money coming to Wales as a result.

I was pleased to set out our workings out. I issued a written statement to the Senedd some time ago now in response to questions from colleagues in the Chamber to set out how we had come to that conclusion. But I think that no Member here today can deny the fact that the UK Government's failures to do what is best for the Welsh economy are just stacking up one by one.