A Welsh Audit Office report has found that the record-keeping of the Welsh Government’s economy department contained “gaps and errors” and failed to produce information with ease.
The review by the WAO followed the collapse of businesses which had received funding from the Welsh Government such as Griffith Place Communications and Kancoat.
When reports of £5m of public money being lost in supporting Kancoat came to light in October, Welsh Conservative and Shadow Economy Secretary Russell George AM said the “revelations expose a pattern in the Welsh Government which shows that it is not an isolated blip”.
Commenting on the report, Mr George, said:
“This report sadly comes as no surprise. The Welsh Labour Government’s approach to business lending is extremely poor. Businesses are often left bewildered in relation to what government help is available.
“The report also highlights the Welsh Government’s amateurish approach to keeping records of its activity to support businesses.
“Having correct and accurate information in regards to jobs being created is essential in order for AMs to be able to properly scrutinise the effectiveness of government interventions.
“Going forward, the Welsh Government must make it far clearer what financial support is available and how business can access it”.