Commenting on the findings of Wales Audit Office report on Welsh Government grant management associated with the Penmon fish farm project – which has highlighted 'unsuitable' procedures - Shadow Minister for Finance Paul Davies AM, said:

"This report confirms just how appalling this situation really was.

"Ignoring risks or failing to mitigate them is absolutely unforgiveable – particularly when millions of pounds of taxpayers' money is at stake.

"This is not the first time the spotlight has fallen on Labour ministers running fast and loose with public cash and grant management. It must be the last.

"Further improvements must be made and I expect Carwyn Jones and his finance minister to publicly accept the recommendations made in this report."