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| Garden's £1.9m debts are cleared | Garden's £1.9m debts are cleared |
| (10 minutes later) | |
| The National Botanic Garden of Wales is to get £1.9m extra public funding to pay off its debts, deputy first minister Ieuan Wyn Jones has announced. | The National Botanic Garden of Wales is to get £1.9m extra public funding to pay off its debts, deputy first minister Ieuan Wyn Jones has announced. |
| Mr Jones told AMs the one-off grant was to put the garden on a sound financial footing to attract private investment. | Mr Jones told AMs the one-off grant was to put the garden on a sound financial footing to attract private investment. |
| He said the money it receives each year from the Welsh Assembly Government would rise from £150,000 to £500,000. | |
| Managers of the £43m garden at Llanarthne in Carmarthenshire had been negotiating to wipe out its debt. | Managers of the £43m garden at Llanarthne in Carmarthenshire had been negotiating to wipe out its debt. |
| It has lost money since it opened as a millennium project in 2003. | It has lost money since it opened as a millennium project in 2003. |
| Two months ago, it emerged that garden managers were in talks with the assembly government to remove the debt and increase its annual grant. | Two months ago, it emerged that garden managers were in talks with the assembly government to remove the debt and increase its annual grant. |
| Revealing the outcome of those talks, Mr Jones told AMs that the garden had met all the recovery targets it had been set. | Revealing the outcome of those talks, Mr Jones told AMs that the garden had met all the recovery targets it had been set. |
| He emphasised that the extra funding was all that would be available. | He emphasised that the extra funding was all that would be available. |
| The garden was opened in July 2000 and developed at a cost of £43m with half on the money coming from the lottery funded Millenium Commission. | The garden was opened in July 2000 and developed at a cost of £43m with half on the money coming from the lottery funded Millenium Commission. |
| Accounts for the 2005/2006 financial year showed that it had depended on an overdraft to pay its day-to-day "capital requirements" and auditors KPMG had warned that uncertainties may cast doubt about the ability of the garden to continue as a going concern. | Accounts for the 2005/2006 financial year showed that it had depended on an overdraft to pay its day-to-day "capital requirements" and auditors KPMG had warned that uncertainties may cast doubt about the ability of the garden to continue as a going concern. |
| No further payments | No further payments |
| In 2002 and 2003 the garden received nearly £2m in aid from the assembly government and the lottery, but warned in October 2003 it may have needed to call in the receivers. | In 2002 and 2003 the garden received nearly £2m in aid from the assembly government and the lottery, but warned in October 2003 it may have needed to call in the receivers. |
| A rescue package was announced by the assembly government, Carmarthenshire Council and the Millennium Commission with each contributing £300,000. | A rescue package was announced by the assembly government, Carmarthenshire Council and the Millennium Commission with each contributing £300,000. |
| The then culture minister Alun Pugh said there would be no further payments from the assembly government after 2009 to stabilise the garden. | The then culture minister Alun Pugh said there would be no further payments from the assembly government after 2009 to stabilise the garden. |
| In 2004/5 102,000 visitors visited the garden. | In 2004/5 102,000 visitors visited the garden. |
| The projected visitor number for the current financial year is 125,000. | The projected visitor number for the current financial year is 125,000. |
| Last November it was announced that the assembly government would wipe out the £13.5m debt of the Wales Millennium Centre in Cardiff Bay and treble its annual revenue funding from £1.2m to £3.7m. | Last November it was announced that the assembly government would wipe out the £13.5m debt of the Wales Millennium Centre in Cardiff Bay and treble its annual revenue funding from £1.2m to £3.7m. |