, 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.
, 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?
