March 13, 2007

More taxpayers' money wasted

Welsh authorities took questionable risks in offering grants worth £247m linked to a £1bn mothballed silicon chip plant in Newport, says the auditor general of Wales. The European Union approved part of the huge package of subsidies "based upon cost estimates that cannot be fully substantiated".

He also said grant-giving to the £43m National Botanic Garden for Wales millennium project had lacked "common commercial disciplines" and breached Treasury guidelines.

Still, it's only taxpayers' money.

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