Setback for Circuit of Wales race track developers

"Further work is needed" before the Welsh Government is happy to underwrite plans for the £371m Circuit of Wales.

Economy Secretary Ken Skates told AMs on Wednesday that, at a time of "significant economic uncertainty" due to Brexit, it could not back the plans for the race track in Ebbw Vale in their current form.

Mr Skates said the risk to the taxpayer in the plans' present state was "unacceptable".

In a statement, developers said they were "confident" a balance of risk sharing could be delivered.

BBC Wales economics correspondent Sarah Dickins reports.