Diolch. I'm very grateful to colleagues for their comments in the debate this afternoon, and I should respond to some of the committee's recommendations on the floor of the Senedd, because I know it was the first recommendation of the Climate Change, Environment, and Infrastructure Committee that I respond to their recommendations 2 and 3 during this debate this afternoon. So, I'm pleased to do that, and I know that the committee was keen that I clarify whether the bank could act a lender to devolved public authorities other than local authorities, based on the new definition of public authorities, and also whether and how the ability of devolved public authorities to borrow from the UK Infrastructure Bank could impact on funding arrangements for those bodies. 

So, just to confirm that we do welcome the fact that the definition of public authorities has been broadened to make it clear that the bank can lend to a wider range of devolved public authorities, rather than simply local authorities. The appropriateness of borrowing to specific public authorities and any impact on their funding arrangements would have to be considered on a case-by-case basis, but I'm more than happy to provide committee with more detail as we get into the use of the bank, and to liaise with public authorities to test their experience of dealing with the bank. And I will say that our Welsh Government officials are in very, very frequent contact with bank—as, in fact, is the Development Bank of Wales—to establish those good relationships. 

And then, in terms of those concessions that we were trying to negotiate, they were around those three specific clauses that I've described this afternoon. In terms of a role for Welsh Ministers when clauses 2 and 3 might look to be amended, those relate, of course, to the strategic priorities and plans, and the objectives and activities of the bank. But then, also that point about directors: so, we would have originally, I think, wanted to have been able to appoint ourselves a director onto that board. We weren't able to get to that point with the UK Government, but I think that what we did negotiate, which was that there would be a specific member of the board responsible for liaison and whose role it is to represent the views of the Welsh Government on that board, I think, is an important concession that we were able to achieve in terms of that particular concern that we had.

In terms of the length of time that it took to get us to this point, I think that we do have to recognise that there were delays in reaching a compromise position, but they were more of a product of the numerous changes in Treasury Ministers at Westminster, specifically over the summer, rather than any particular disagreement that we had on some of these issues that we were trying to resolve. So, I think that what we have been able to negotiate will certainly be an improvement on the initial situation, and I think that we are at a point now where we are able to recommend consent, because our key concerns have been addressed in a way that we think is pragmatic and does allow us today to recommend consent.