Questions Without Notice from the Party Leaders

Part of 1. Questions to the First Minister – in the Senedd at 1:42 pm on 25 June 2019.

Alert me about debates like this

Photo of Paul Davies Paul Davies Conservative 1:42, 25 June 2019

Well, this has been going on for three years now, First Minister, and we should see that report as soon as possible.

And whilst we're talking about Welsh Government's use of taxpayers' money, as you know, First Minister, the Wales life sciences investment fund has a target investment of £100 million to attract and grow life science businesses that are based, or will be based, here in Wales. I fully agree that this fund is innovative and is helping to bring skilled jobs to Wales. However, I hope you will join me, First Minister, in my concern of how the fund is being managed. Since 2016, the fund has been managed by a fund management company run by Arix Bioscience plc, which has made nine investments so far. However, it's been reported that six of those investments have been made to companies where Neil Woodford is a shareholder. It is also worrying that Mr Woodford is a major shareholder in Arix Bioscience, with a 24 per cent stake in the company. First Minister, do you agree that it is unacceptable for people to be shareholders in the company that gives out taxpayers' money and in the companies that benefit? And do you share my concerns that this individual is now being investigated by the Financial Conduct Authority? And what action will you be taking to make sure that Welsh taxpayers' money is invested appropriately?