A statement from the Welsh government has confirmed earlier rumours that a flagship regeneration package is to be scrapped. Carl Sergeant stated that the troubled Regeneration Investment Fund for Wales is to be wound up and its activities brought in house.
Launched by IWJ in the heady days of the One Wales Government, RIFW was supposed to be the new way of providing developers with borrowing opportunities as an alternative to the tightfisted banks. It never really took off as a funding vehicle and was suspended earlier this year after allegations of dodgy land dealings emerged.
These nagging problems don't yet seem to be resolved but the sound of the bolt sliding shut on the stable door is unmistakable. Perhaps another question to be added to an already long list of issues is why the announcement was made rather late on a Friday afternoon? Or perhaps not.