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Cannan was 'never a fan' of Media Development Fund

Treasury minister gives evidence to public accounts committee

The treasury minister has told the public accounts committee he was never a fan of what potential benefits the Media Development Fund was alleged to be bringing.

At the time the fund was brought in, Alf Cannan was a backbencher.

On Tuesday morning Mr Cannan gave evidence before the committee, which is investigating the 26 million pound losses made by the fund.

He was asked if he was happy that evidence and methodology was currently in place where there was an element of risk involved in an investment:

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