This fiscal settlement delivers for Wales. This year, the Welsh Government will receive almost £19 billion of block grant funding, which is £1 billion more than was agreed with the Welsh Labour Government as being a fair settlement for Wales.
The fiscal settlement will not matter all that much if the possible trade deal with Australia goes through with a zero-tariff regime, which would cause serious difficulties for Welsh and, indeed, Scottish farmers. What compensation for those farmers is being built into the fiscal settlement, should this latest gung-ho trade deal scupper their livelihoods?
No trade deal has been signed yet, but yesterday I was on a call with National Farmers Union representatives, who said that they welcomed the principle of a trade deal. They have a few concerns about some of the details, and we will continue our discussions with the NFU and with farmers. But I am surprised at the hon. Lady, who I think was in favour of having a free trade deal with the European Union. Why would she not want to have a free trade deal with a country with which we all—and she and I personally—have very close links indeed?