- Proposal to award a subsidy to Cardiff International Airport (the Airport) in the form of an investment package of up to around £205 million of a ten-year period. The Airport is owned by the Welsh Government at arm’s length via a holding company, WGC Holdco Ltd (WGC Holdco).
- Our key takeaways from the Subsidy Advice Unit (SAU) report are:
- In general, ensure all statements that underpin the assessment are supported by objective and verifiable evidence, and that supporting evidence is correctly referenced.
- Be clear on what is the most likely counterfactual and provide appropriate evidence to support this (e.g. financial projections and internal documentation from the beneficiary of the subsidy).
- Provide evidence to support the conclusion that all costs covered by the subsidy are additional and would not have been funded otherwise.
- Provide additional explanation and supporting evidence to show the subsidy is proportionate to its policy objective.
- Systematically set out and evidence potential competition and investment impacts, drawing on the relevant parts of the Statutory Guidance.
Welsh Government, Cardiff International Airport Limited
Posted in Subsidy Advice Report Tracker.
