The Welsh government is unlikely ever to recover more than £7m it gave to a racetrack project was was never delivered. The ill-fated Circuit of Wales, planned for Ebbw Vale, failed in 2017 when the Welsh government rejected a request to guarantee almost half its funding.
The government in Cardiff Bay provided £7.35m in the form of a loan to the Heads of the Valleys Development Company Ltd to enable the company to develop the project. The company - headed by Michael Carrick - claimed that 6,000 jobs would be created if the track was built on moorland above Ebbw Vale. But due diligence investigations concluded there would only be around 115 jobs if the first phase went ahead.
Read more: UK Treasury takes back £150m from the Welsh Government because it hadn't spent it quickly enough
