Part of 1. Questions to the Minister for Economy – in the Senedd at 1:48 pm on 14 December 2022.
Well, as ever, we're using the tools that we do have at our disposal, and the understanding of a scheme that people understand, because of the way that we have supported businesses in this area before, and, of course, we already have a range of reliefs built in to our system for smaller businesses in any event, and we've got a cap on the amount that businesses can benefit from as well. That actually means that the largest businesses won't have an even bigger amount provided to them. The cap means that we can then recycle more of that money that would otherwise go to larger businesses into our smaller and medium-sized firms. As ever, we're always interested in how we can have better and more targeted tools. There is, though, a pay-off or a trade-off in all of these. A scheme that is simple and easy to understand and administer, that can get money out rapidly, can have some edges around it that are more fuzzy. If you look for a more targeted scheme, it will make it more complex, and you're going to have to invest more time, energy and effort in the design and the delivery of it, and the more targeted and more complex a scheme, the more likely you are to see businesses fall through the gaps in it. So, there's always a choice to be made here. I'm comfortable we've made the right practical choice in where we are, and we'll need to continue to flex, as we move through the next difficult year ahead, with a recession that even the Chancellor of the Exchequer acknowledges we're at the start of, and, as I say, it will be a difficult year ahead for many businesses in the sector, which is why we've made this announcement of support over the next two years.