Second story today of tax payers money unwisely ..................
The Welsh government is very unlikely to get back 7.35m it spent on an ill-fated racetrack project, it has said.
Officials say there is
"little chance" of recovering the money from the insolvent company behind Circuit of Wales.
The project fell apart in 2017 when the Welsh government rejected a request to guarantee almost half its funding.
The Welsh government said it had "taken action to secure" the cash.
The cash was provided to cover a loan guarantee, which ministers wrote off the value of in 2020.
Officials made the comments in response to a Freedom of Information (FOI) request, first reported by the Nation.Cymru website.
Welsh Secretary David TC Davies called on Labour ministers to take further legal action to get the money back.
A Senedd report in 2018 said government officials made "inexplicable decisions" about the spending of public money on the project.
Backers of the 433m project had claimed the Ebbw Vale racetrack would create thousands of jobs.
But the former Economy Minister Ken Skates said job claims had been overstated when he took the decision not to back the project further.
This is what should have been checked at the beginning cont
https://www.bbc.co.uk/news/uk-wales-politics-65181038