Kancoat: 'Very unfortunate wording' on grant aid to be changed
A critical report by AMs into a £3m government investment in a Swansea company that went bust has prompted ministers to make changes to the way it supports companies.
Steel-coating firm Kancoat was backed despite civil servants warning it had a "weak" business plan and was high risk.
The Welsh Government is to drop the term "non-repayable repayable business finance" as part of the call for more clarity in its business support.
Last November, senior civil servant James Price admitted it was "very unfortunate wording" when questioned by Labour AM Rhianon Passmore at a public accounts committee hearing.
(Video courtesy of Senedd TV)
05 Apr 2017