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The Budget

That is a valid point, and it brings me on to the next sentence of my speech. My right hon. Friend the Member for Dwyfor Meirionnydd talked about the devolution of corporation tax, as has seemingly been proposed for Northern Ireland. Another option would be to vary corporation tax within the convergence area, which is something that we should be looking at. It is something the Treasury can do, and it would be permissible under state aid rules. It is also something that the economic commission of the Welsh Conservative party has called for. It is a shame that its bosses in London have not been listening. We also need other positive interventions to stimulate economic growth in Wales. In particular, as a west Wales MP, I would like to highlight once again the question of electrifying the Great Western main line to Swansea. The Secretary of State for Business, Innovation and Skills stated that the Government would intervene positively in the economy to promote growth across the different parts of the United Kingdom through transport infrastructure and high-speed rail electrification. By stopping in Cardiff—although that was a welcome step, as other Committee members have mentioned today—the UK Government are effectively saying that the Welsh economy stops at the Welsh capital. That is a worrying message for us in west Wales.