, Finance Committee
Financial Transactions Capital: Evidence session 3
Peter, did you just want to—?
, Finance Committee
Financial Transactions Capital: Evidence session 3
But, with some housing developments and that sort of thing, you could have a fairly swift turnaround.
, Finance Committee
Financial Transactions Capital: Evidence session 3
So, you can do it in-year. So, you could roll it over within the year.
, Finance Committee
Financial Transactions Capital: Evidence session 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…
, Finance Committee
Financial Transactions Capital: Evidence session 3
I think Mike wanted to just come in.
, Finance Committee
Financial Transactions Capital: Evidence session 3
Thank you, Peter. Rhianon.
, Finance Committee
Financial Transactions Capital: Evidence session 3
Barnett, maybe?
, Finance Committee
Financial Transactions Capital: Evidence session 3
Peter, if we can have one more question, and then I'll bring Rhianon in.
, Finance Committee
Financial Transactions Capital: Evidence session 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.
, Finance Committee
Financial Transactions Capital: Evidence session 3
And can that be used for anything other than FTC?
, Finance Committee
Financial Transactions Capital: Evidence session 3
And it sits there outside any other normal capital and revenue as well. It's a clear, straight, like-for-like sort of—
, Finance Committee
Financial Transactions Capital: Evidence session 3
Sorry, there's the second part of the question as well—of your question.
, Finance Committee
Financial Transactions Capital: Evidence session 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.
, Finance Committee
Financial Transactions Capital: Evidence session 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?
, Finance Committee
Financial Transactions Capital: Evidence session 3
Yes, maybe when you're developing the budget documentation, it's something that we'd be interested in particularly. Peter.
, Finance Committee
Financial Transactions Capital: Evidence session 3
Okay. It's just probably bringing it all together.
, Finance Committee
Financial Transactions Capital: Evidence session 3
But maybe more towards what Mike was saying, the allocations below that.
, Finance Committee
Financial Transactions Capital: Evidence session 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…
, Finance Committee
Financial Transactions Capital: Evidence session 3
Sorry, Mike.
, Finance Committee
Financial Transactions Capital: Evidence session 3
Okay.
, Finance Committee
Financial Transactions Capital: Evidence session 3
And is there a way of asking for a change, or to challenge that decision?
, Finance Committee
Financial Transactions Capital: Evidence session 3
Right, okay.
, Finance Committee
Financial Transactions Capital: Evidence session 3
It was a—
, Finance Committee
Financial Transactions Capital: Evidence session 3
Was there any consultation with Welsh Government before that classification was changed?
, Finance Committee
Financial Transactions Capital: Evidence session 3
Oh, right, okay, sorry. Fair enough.
