We have already seen significant structural investment in the Valleys, including from the European Union. The taskforce will build on this foundation, working with people living in the Valleys, local businesses, local government, the third sector and civic organisations to promote the Valleys as a region for investment and as a place to live, to better co-ordinate existing investment, and to address long-term issues. It will work closely with both the Cardiff capital city region and the Swansea bay city region programmes and will seek to harness the potential of the Valleys’ unique and diverse landscape.

Using the knowledge of the public sector and the ability of the Welsh Government to act as a catalyst, the ministerial taskforce will direct and lead the regeneration and sustainable growth of the Valleys. The immediate priority for the taskforce will be to listen to what people in the Valleys want for our future. We will start an in-depth conversation about improving quality of life, economic development and regeneration, business efficiency and competitiveness, employment and skills, and, finally, sustainable development.

The taskforce will be an active and agile body and not a bureaucratic quango. It will have a small core membership and will call on contributions from others as required. Every Cabinet Secretary and Minister will share a responsibility for improving the lives of people who live in the Valleys. I will chair the taskforce. Its members will include the Cabinet Secretary for Economy and Infrastructure and the Minister for Skills and Science. It will also have a small number of external expert advisers. I will update Members on these appointments in due course.

It is important that we recognise that the diversification of the economy of the Valleys has already begun. New industries are being supported and we must continue to build upon this and ensure that everybody benefits, creating new opportunities in local communities and ensuring the benefits of inward investment are retained and shared in the Valleys.

The fundamental issues and challenges affecting the south Wales Valleys are rooted in the noxious cocktail of poverty and deprivation. The taskforce will respond to that range of negative socioeconomic indicators that have placed so many of our Valleys communities at the bottom of the health, wealth and well-being league tables. Although we have made important progress in Wales to reduce unemployment and the number of people living in workless households, parts of the Valleys continue to have high levels of economic inactivity, high levels of deprivation, and high levels of unemployment. This, in turn, has had an impact on educational attainment and long-term health.

The impact of the UK Government’s welfare reforms, from the introduction of the bedroom tax to cuts in disability benefits, has been felt most acutely by communities in the Valleys. Whilst we cannot undo these reforms, we can do more to support people and help them in their search for dignified, skilled and meaningful work. We will work with people to respond to their real-world circumstances and experiences. Access to jobs, access to high-quality services and access to support to improve employability has to underpin this approach. We know that many people and communities are feeling disenfranchised, dispirited and under-engaged. I want the taskforce to talk with and listen to these communities and these people to identify why people feel so left behind by the wider economy and those politicians who are elected to represent them.

Through the taskforce, we want to see sustainable growth that adds economic value to our Valleys communities. Where wealth is created, we want it to remain in those local economies, not flow away into distant communities, hedge funds or off-shore bank accounts. The ongoing regeneration of the south Wales Valleys must be rooted in an approach to economic policy that has the eradication of poverty as its primary objective. We can help improve families’ living standards, health and well-being and children’s life chances by ensuring people have access to better jobs closer to home. The taskforce will work across Welsh Government departments, with the economy, education, health and housing, to stimulate action to meet the Valleys’ developing needs.

Acting Presiding Officer, I do not underestimate the challenges that lie ahead, especially in light of the decision of the British people to seek an exit from the European Union. However, there is enthusiasm to co-operate and to work together, as previous generations have done, to meet the challenges of today and to provide a prosperous and secure future for the Valleys. I will keep Assembly Members informed as the work of the taskforce develops. Thank you.