Part of 2. 1. Questions to the Cabinet Secretary for Economy and Infrastructure – in the Senedd at 1:50 pm on 21 June 2017.
I think the First Minister and I have been clear that, in determining the Circuit of Wales, the project must stand up on its own two feet; it must deliver for the people of Blaenau Gwent and the Heads of the Valleys; and it must meet the criteria that we set out last summer, where at least 50 per cent of the finance comes from the private sector and at least 50 per cent of the guarantees, or the risk, is shouldered by the private sector as well. We need to examine the value for money, the jobs that are likely to be created, and the viability and sustainability of the project, not just during construction but for several decades. All of those are being considered as part of the work that’s taking place right now in the lead-up to the Cabinet decision next week. The project, as the Member is aware, has evolved many, many times during the last five to six years, and whilst previous reviews have been carried out, and appraisals have been carried out, they would relate to previous business models.