As always, the hon. Gentleman makes a fantastic contribution.
When I close my remarks, I should like to talk about recent announcements in relation to the Silk report and borrowing powers, but before I get to that point, let me just say that another important element of this report was the need to use convergence funding appropriately. Wales is a net recipient of EU funds, and I am wary of some of the discussions under way at the moment about real-term cuts in British contributions to the EU pot and in the EU expenditure pot, because that will have a direct impact on cohesion funding for some of the poorest communities in our country.
Finally, one of the key elements of the report relates to transport. Wales is at the heart of one of the major trading routes within the European Union. We export more to the Republic of Ireland than we do to all the BRIC countries put together, so Wales is not some sort of marginal geographical location; we are at the centre of one of those trading routes.
2.30 pm
Sitting suspended for Divisions in the House.
[Andrew Rosindell in the Chair]
3 pm