Newport is to get a tolled M4 relief road, according to press reports.
According to The Times and The Independent, Chancellor George Osborne will announce a new 14-mile M4 relief road as part of June’s comprehensive spending review.
The reports claim talks are continuing between the UK Government and the Welsh Government about ways to fund the road.
The two newspapers reported that funding for a relief road would be guaranteed by the Treasury for the Welsh Government to build it. The Welsh Government would then raise finance to repay the loan through tolls.
Previous plans to build an M4 relief road between junctions 23 and 29 were dropped in 2009 by the Welsh Government after costs soared to £1bn from around £340m to £350m.
Conservative Shadow Minister for Transport Byron Davies AM welcomed the news.
He said: “This is long-standing Welsh Conservative policy and we look forward to the Chancellor’s summer statement with interest.
“Labour’s decision to scrap the project was a terrible mistake and it’s time for the views of business leaders and residents across the region to be properly heeded.
“The M4 plays a key role in the economy of both South Wales and the country as a whole. Prioritising a relief road is a crucial part of improving inward investment and maximising economic growth.
“It’s a great shame that lazy Labour-led governments failed to maximise the opportunity during the years of plenty. Carwyn Jones must now collaborate with the UK Government and take full advantage of future developments.”