Yes, please. I am disappointed that the Conservatives are not supporting the freeze to the multiplier, because, of course, the alternative is that the multiplier rises in line with the consumer prices index, which would obviously be very bad news for businesses right across Wales, and we have to remember as well that the multiplier is only one factor that determines the ratepayer's bill, and it shouldn't be considered in isolation. Another factor, of course, is the rateable value of the property itself, and our tax base, with an average rateable value of around £19,000, is very, very different to that across the border in England, where they have a much higher average at around £33,000, and obviously then that drives a large difference in the average liability of ratepayers.

And it's also worth recognising, of course, that our support in terms of freezing the multiplier is only part of our support for businesses. We're providing through the final budget, which has been published today, over £460 million of support to ratepayers in Wales over the next two financial years, and that's on top of the £240 million of support that we provide every year. So, we're providing very extensive support to ratepayers across Wales in terms of, particularly, small businesses, but also those businesses in the retail, hospitality and leisure sectors, who will have their bills next year reduced by 75 per cent as a result of the support that we're providing.

And obviously, colleagues will be aware of the revaluation that has been taking place, and the fact that some properties will see their rates increase, so we've put in place transitionary support for all of those businesses who will see an increase of more than £300 as a result of that revaluation—again, a really fair and pragmatic approach to supporting businesses. And I think our package of new support, together with our permanent relief schemes, does ensure that we have really welcoming environment here for businesses in Wales, whilst of course protecting our local governmental funding.

And the regulations that we've put forward today will deliver a key element of that support, preventing the inflationary increases in rates bills that ratepayers would otherwise face, and, for that reason, Llywydd, I would ask the Conservatives to think again about their intention to vote against that course of action this afternoon.