, Finance Committee
Financial Transactions Capital: Evidence session 3
And is that something that, as a Government, you’d be talking to your counterparts in Treasury and saying, ‘This is really hampering what—’? Have you any sense of why they’ve done it, and whether or not there’d be an appetite to change the designation back?
, Finance Committee
Financial Transactions Capital: Evidence session 3
Sorry, with the development bank—and you talked there about the development bank helping to de-risk a little bit of the decision making and things, and, Cabinet Secretary, you talked about a straightjacket of rules when we started—being designated differently…
, Finance Committee
Financial Transactions Capital: Evidence session 3
I'll bring Mike in.
, Finance Committee
Financial Transactions Capital: Evidence session 3
You price for risk, then, as well.
, Finance Committee
Financial Transactions Capital: Evidence session 3
And I assume you price for risk, then, as well.
, Finance Committee
Financial Transactions Capital: Evidence session 3
Okay. Rhianon, briefly, because I'm conscious I want to bring Mike in as well.
, Finance Committee
Financial Transactions Capital: Evidence session 3
—do that sort of middle man bit, that, effectively, the people who are getting the loans don't necessarily need to know how that loan is funded, it's just that they know what the terms and conditions of that loan are?
, Finance Committee
Financial Transactions Capital: Evidence session 3
Is that where the Development Bank of Wales comes in useful, because they—
, Finance Committee
Financial Transactions Capital: Evidence session 3
Before I bring Mike in, my final question, really, to take it beyond Government and then onto those loan users and the people who have had these loans: is that pool of people getting bigger as well as a result, so that, not the general public, but the people…
, Finance Committee
Financial Transactions Capital: Evidence session 3
And how good is the knowledge in those departments of how it works, so that they're able to identify those areas?
, Finance Committee
Financial Transactions Capital: Evidence session 3
Just going on from there, we've talked about housing and the way Government uses this in specific areas. You talked a little bit earlier about the investment of time and energy in explaining how it works, what the rules are. How much of that has been going on…
, Finance Committee
Financial Transactions Capital: Evidence session 3
I know that Rhianon and Peter want to come in, so I'll bring Rhianon in.
, Finance Committee
Financial Transactions Capital: Evidence session 3
I just wanted to check that.
, Finance Committee
Financial Transactions Capital: Evidence session 3
And to have ring-fenced for—? You talk about housing; it was housing policy, say, in England that created the Barnett, effectively, consequential. It's not hypothesised for here, is it?
, Finance Committee
Financial Transactions Capital: Evidence session 3
So, maybe it's—. To Andrew: how have you managed that in the past, and how do you foresee it going forward?
, Finance Committee
Financial Transactions Capital: Evidence session 3
With that line of thought, then, with the loans that are currently under FTCs, if that step change changed and those policy decisions were made in Westminster, what would be the challenges for the Welsh Government and the arm's-length bodies that use this…
, Finance Committee
Financial Transactions Capital: Evidence session 3
We've heard in some evidence sessions that the future of FTCs is uncertain. Do you have a view? Do you think they will eventually go? Are they going to be around for a while? Are they going to evolve under a new administration now in London? Any thoughts…
, Finance Committee
Financial Transactions Capital: Evidence session 3
It’s good to have you here, and thank you very much for the written evidence that you’ve already provided for us. That was circulated to Members before the meeting today. As you’re aware, we carried out some evidence sessions around our financial transactions…
, Finance Committee
Financial Transactions Capital: Evidence session 3
Croeso cynnes i'r rôl newydd, a'r tro cyntaf i chi ddod gerbron y pwyllgor yma yn y Senedd yma, dwi'n meddwl. Felly, mae'n dda eich cael chi.
, Finance Committee
Financial Transactions Capital: Evidence session 3
A warm welcome to you, Mark Drakeford. Could you introduce yourself and your officials for the Record?
, Finance Committee
Financial Transactions Capital: Evidence session 3
Okay, we come to our first substantive item today.
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Papers to note
Excellent. Okay, we'll move those papers and note those for the record. Diolch yn fawr.
, Finance Committee
Papers to note
If we can move, then, to item 2. Item 2 is the papers to note. Any comments on any, or are we happy to—?
, Finance Committee
Introductions, apologies, substitutions and declarations of interest
A warm welcome to this meeting of the Finance Committee, the first meeting after the summer recess. It's good to see everyone here and we’re very pleased to see you here. Of course, as usual, this meeting is being broadcast live on Senedd.tv and the Record of…
, Plenary
Short Debate: Rhondda Cynon Taf National Eisteddfod: Securing a legacy for the Welsh language in the Valleys
Thank you very much, Heledd, for this debate. It’s extremely important that we do consider the legacy of the Eisteddfod, and I want to just talk a little about the cultural legacy, and particularly the choral legacy, because I am a member of a choir. I’ve…
