I do recognise that, and of course you'll see that we also are expecting net additional revenue here in Wales as a result of the block grant adjustment. It's just simply important and responsible to consider the risks before we seek to devolve powers any further, and of course all of that needs to be seen within the context of our strategic tax policy priorities, and of course the future of Wales within the United Kingdom.

I'm really looking forward to seeing what the Independent Commission on the Constitutional Future of Wales has to say on tax in its final report. In its interim report, the commission did recognise the imbalance in the current constitutional arrangements, and these imbalances do play into the current impasse that we have in seeking the devolution of further tax powers of all sorts in Wales. So, any argument to seek further powers can't be divorced from the need to address the inadequacies of the current devolution settlement.

So, just to conclude, this is an important agenda. I really do welcome colleagues' interest in it. I would say that when we do consider the role of income tax in future, I think of it in terms of supporting sustainably our longer term strategic priorities, for example, such as addressing the pressures in social care for the future, rather than seeing it as a short-term tool to address those immediate funding pressures that we have. But, of course, I really would welcome an ongoing discussion with all colleagues who have an interest in this across the Chamber.