The Welsh Labour Government has formally written off £1,641,682 in funding awarded to Credu Charity Ltd, a charity that has now entered liquidation, who were constructing a Maritime Centre in Porthcawl.
The Auditor General for Wales, Adrian Crompton, had strong words for the Welsh Government in a review titled: “Welsh Government funding for the failed Porthcawl Maritime Centre”, he said:
“… this is not the first time I, or my predecessors, have reported on weaknesses in the Welsh Government’s management of its support to charities or private companies. While time has passed since the events described in this report, there were basic failings in this case and the lessons from it remain relevant today.”
Commenting, Welsh Conservative Shadow Cabinet Secretary for Finance, Sam Rowlands MS, said:
“This is yet another example of the Welsh Labour Government losing complete financial control and producing another colossal waste of taxpayers’ money.
“The Auditor General’s review is clear: while some projects do fail, the Welsh Government did not put proper arrangements in place to manage the risks associated with this project.
“Welsh Conservatives will treat taxpayers’ money with respect, so that more money can be spent on frontline services and putting money back into people’s pockets.”
