The Welsh Liberal Democrats have questioned Labour's economic competence as it was revealed today that Welsh Ministers have refused to underwrite the proposed Circuit of Wales project in Ebbw Vale - despite already spending £9million on the project.
Reacting to news, Welsh Liberal Democrat Shadow Economy Minister Eluned Parrott said:
"This will be a bitter blow to families and businesses in and around Ebbw Vale who will have been hoping to see jobs and investment breathing new life into the area. Instead, this community will feel badly let down.
"Why did the Welsh Government spend £9million of tax payers' money on a project that only now they feel lacks economic credibility? Why did they build up the hopes of the local community in this cruel way, only to disappoint them now? How many jobs could £9million have created if invested more wisely?
"This whole saga hangs further questions over Labour's tattered economic reputation. This is just the latest in a long line of Labour economic failures over the past 17 years, that's left Wales the only part of the UK where pay packets are actually falling.
"The Welsh Liberal Democrats will deliver a Wales that works for you, providing our nation with the joined-up economic thinking that's so desperately needed. We'll create an outward-looking Opportunity Economy that gives our workforce the skills they need to thrive, not just survive."