Wales politics

Circuit of Wales racetrack funding decision 'in fortnight'

Circuit of Wales artist impression Image copyright Circuit of Wales
Image caption The backers behind the Circuit of Wales are seeking a taxpayer-funded guarantee

A final decision on the Circuit of Wales racetrack will be made by the Welsh Government's cabinet in "the next fortnight", according to the first minister.

Carwyn Jones said his government wants "to see this project delivered but it has to be delivered on a sustainable basis."

The company behind the project wants a £210m taxpayer-funded guarantee.

The Conservatives and Plaid Cymru have criticised a delay on the decision.

It was originally expected that ministers would decide whether to go ahead with backing the project in March.

The guarantee that is sought amounts to about half the cost of the scheme.

During the session of questions to the first minister in the Senedd, Plaid's economy spokesman Adam Price said: "I think people will draw their own conclusion, first minister, on why this decision has been pushed beyond the general election."

Image caption Carwyn Jones accused Adam Price of making an insinuation that the decision was "pushed back for some insidious reason"

In response, Mr Jones said: "He makes the insinuation that somehow this has been pushed back for some insidious reason.

"I can tell him that, unlike him, we do conduct proper due diligence. People expect that, people in Blaenau Gwent expect that.

"We want to see this project delivered but it has to be delivered on a sustainable basis."

Pressed by his fellow Labour AM, Lynne Neagle, on the date a decision could be expected, the first minister said: "I would expect the cabinet to meet in the course of the next fortnight with a decision being taken, of course, at that cabinet meeting.

"I understand the great enthusiasm for the project but we also have to temper that, of course, with ensuring that the project stacks up on its own, that the level of risk is acceptable, that there is substantial investment from the private sector, and that's what we've been working with, with the Circuit of Wales team," he added.

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