P-05-709 The Circuit of Wales – Correspondence from the Petitioner to the Chair, 04.10.16

COMMENTS RELATING TO THE MINISTERS LETTER TO MIKE HEDGES AM

Jobs -What is outlined are the direct racetrack jobs. I would still suggest that the 170 full time jobs and 1500 part time jobs would equate to roughly 500 full time equivalent, significant benefit to the Blaenau Gwent area. The Ministers response also fails outline the benefits in the local supply chain that would be created by the anticipated 750K anticipated visitors annually this alone has the potential to create several hundred jobs and fits neatly with the WG aim of growing tourism. this year is The Year of Adventure, motorsports would add to this theme). The Ministers letter completely ignores the other business elements of the scheme.  At the Planning meeting giving consent to the circuit the Council received a letter asking the Council to refuse planning consent on the grounds that they felt it would relocate jobs from their area to Wales.  Reports were prepared by Grant Thornton, South Wales University and the Cardiff Business School outlining the potential for several thousand jobs via the attraction of a cluster of engineering based industries.  One final thought on jobs is that no mention is made of the hospitality jobs likely to be created.

Risk - On. July 13th the Minister gave his latest update on The circuit of Wales following this Adam Price and Neil Hamilton asked the Minister to clarify where he felt the risk was, the two opposition AMs went on to outline their understanding of the risk saying that it was a guarantee that would not be activated until construction is complete and does not involve WG paying any money to the developers.  As their own officers have confirmed it is a robust business case and the risk of the guarantee being called in is negligible.

- Can the Minister confirm that he has instructed his most senior officers to engage in daily conversation to reach the 50% risk share he has outlined as desirable and as  Martin Whittaker CEO of the COW has stated in press comments that the developer will be able to meet WG requirements will he now take action to ensure a speedy and successful conclusion so that construction work can commence.