18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Peter, did you just want to—?
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
But, with some housing developments and that sort of thing, you could have a fairly swift turnaround.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
So, you can do it in-year. So, you could roll it over within the year.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Is the constraint now with a different classification, that if the money—. Say you had a nine-month loan, for example. It was loaned out, came back in; would you have to then wait three months before you could resend it out, because of the way that you'd have…
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
I think Mike wanted to just come in.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Thank you, Peter. Rhianon.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Barnett, maybe?
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Peter, if we can have one more question, and then I'll bring Rhianon in.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
So, say you invested in something, it was a massive success, you had a stake in it, you got the money back, you could only use it—. It can't be a vehicle for supplementing capital or supplementing revenue elsewhere.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
And can that be used for anything other than FTC?
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
And it sits there outside any other normal capital and revenue as well. It's a clear, straight, like-for-like sort of—
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Sorry, there's the second part of the question as well—of your question.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
It's just that the classification now means that it's hampered, in a way. What would be the way of moving forward if they're dead set on that being what it is? You'd have to rethink a vehicle to be able to do something else within those rules.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Your wish list there of three things, would that then involve looking at a different vehicle, other than DBW, or would it be, then, a lobbying exercise to change the classification of it to be able to do some of this more flexibly?
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Yes, maybe when you're developing the budget documentation, it's something that we'd be interested in particularly. Peter.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Okay. It's just probably bringing it all together.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
But maybe more towards what Mike was saying, the allocations below that.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Before I bring Peter in, would you be able to outline why the Welsh Government hasn't provided clarity on the full FTC allocations as part of the budget? And what assurances can you give us that you'll be able to provide us with regular updates with regard to…
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Sorry, Mike.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Okay.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
And is there a way of asking for a change, or to challenge that decision?
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Right, okay.
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
It was a—
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Was there any consultation with Welsh Government before that classification was changed?
18 Medi 2024 , Finance Committee
Cyfalaf Trafodion Ariannol: Sesiwn dystiolaeth 3
Oh, right, okay, sorry. Fair enough.