'Significant shortcomings' in way Welsh Government managed Circuit of Wales funds

The Auditor General for Wales has criticised the Welsh Government for 'significant shortcomings' in the way it has managed the multi-million pound Circuit of Wales project in Ebbw Vale.

The Welsh Government has provided over £9.3 million of taxpayers money to support the development of the proposed motor racing circuit.

According to a report by the Auditor General, there have been significant shortcomings in the way that the Welsh Government has managed the associated risks to taxpayers' money.

The report says the Welsh Government did not provide strong enough security for public money and that funding conditions were either not in place or not enforced.

The Chair of the National Assembly's Public Accounts Committee, Nick Ramsey AM, has expressed his concerns at the findings of the report.

The company behind the Circuit of Wales project says it welcomes the Wales Audit Office report.

Meanwhile, Alun Davies, the Assembly Member for Blaenau Gwent, said he couldn't comment on the current Circuit of Wales situation.