The Chair of the National Assembly's Public Accounts Committee, Nick Ramsay AM, has released the following statement in response to the Wales Audit Office report on the Circuit of Wales.
Mr Ramsay said:
"The Auditor General's report highlights several significant weaknesses in the Welsh Government's handling to date of its multi-million pound support package for the proposed Circuit of Wales project.
"I am particularly concerned that the Auditor General has identified a lack of Welsh Government oversight of payments made by the project to related companies, and also the use of taxpayers' money to purchase a Buckinghamshire-based engineering company that later went into administration.
"Once again we see an apparent lack of robust governance around the Welsh Government's use of public money to fund private companies, as this committee found with Kancoat and the Regeneration Investment Fund for Wales (RIFW).
"The Public Accounts Committee will want to examine all of these matters in detail in the near future."
The full report is available from the Wales Audit Office.