, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Okay. But, obviously, we expect this to be a growth area in the future, given the fact that more and more people are becoming aware of this as an opportunity in terms of a disposal of their business interests. We're going to look at the green business loan…
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
I guess you can only help those that come forward asking for your help, right, as an organisation. It's more about promoting yourselves as someone that they can come to if they need to for financial support.
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Okay. Luke Fletcher.
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Thank you. We're going to bring Hefin in now—Hefin David.
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Okay. Thank you for that. Sarah Murphy.
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
I see, I see. Rhian, did you want to add anything before we move on to—?
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Okay.
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Before you do, Rhian, could you just—? Net promoter score—what is that? Help me.
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Obviously, we were very pleased to see that the target was achieved in terms of the number of businesses supported over the past five years, and you've clearly had some discussions with the Welsh Government about the rationale or the reasons for not being…
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Okay. And is that a similar ratio for the previous—?
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
And what is that current split?
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
—in terms of those jobs. And in terms of the split between jobs created and jobs safeguarded, the ratio of that split is also rather important, isn't it?
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Again, I understand that, but if you're set a target, you've got to try and do your best to achieve it, don't you? So, when you exclude the COVID-related business, if you like, you've still fallen short, haven't you—
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Is that right?
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Can I just turn to one of the other targets? That was for 20,000 jobs created or safeguarded. That, again, is another one that you appear to have fallen short by. How many jobs have actually been created or safeguarded?
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
—and they're comfortable with shifting the dial, as it were, in order to respond to the current market conditions, yes?
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
So, you've had that dialogue with the Welsh Government—
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
But this is an overall global target that you've got. It's not part of what you do, so you've got to get to the 1:1.15, haven't you? You've got to strain every muscle to aim for the target that you've been set by the Government.
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
So, what are you doing to get there?
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
But obviously that is still your target, right, the 1:1.15 ratio?
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
But, obviously, that explosion in the growth in the market and property prices has been relatively recent, hasn't it? So, has your investment strategy changed over the five years since your establishment?
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
So, it's the emphasis on property investment, you think—
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Thank you very much for those opening remarks. We do recognise, I think, many of the successes that the development bank has enjoyed over the past five years. But, of course, they've also got to be measured against the Welsh Government's own targets that were…
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
No, no. The microphone's working.
, Economy, Trade, and Rural Affairs Committee
Annual Scrutiny - The Development Bank of Wales
Welcome back to the Economy, Trade, and Rural Affairs Committee. We're now moving on to item 4, our annual scrutiny session with the Development Bank of Wales. And I'm very pleased to be able to welcome to our meeting today: Gareth Bullock, the chair of the…
