Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what advice his Department has given the Welsh Government on whether financial guarantees provided by the Welsh Government to the Circuit of Wales project should be considered on-balance sheet expenditure.

HM Treasury officials provided informal advice to the Welsh Government on the likely factors that would be considered by the Office of National Statistics (ONS) for the classification of financial guarantees for the Circuit of Wales project. It is for the Welsh Government to manage the implications for capital provision or borrowing capacity on any ONS classification of financial guarantees.