The Welsh Government has revealed some of the big-spending capital projects they will focus on in the next 3 years.
One of the key areas was improving transport, with plans to improve the Brynglas tunnels and A55, and £62 million to create a South East Wales metro system.
They have also allocated £170 million to housing - the majority of which will help first time buyers in a Help to Buy scheme.
£38 million will be spent on Health facilities - including building the final phase of Noah's Ark Children's Hospital.
Owain Phillips has a closer look at where the Government's going to be spending its cash.
Plans have been released showing what the South East Wales metro system could potentially look like in the future.
Today the Welsh Government announced £62m for phase one of the scheme to create a metro system and improve bus and rail links
In the long term, the system would offer the potential to travel to various areas in south Wales with proposals including rapid travel in and around Cardiff, new routes between central Cardiff and the north west of the city, and a new light rail system.
Among the funding announced by the Welsh Government Finance Minister Jane Hutt this morning is £174.5m for a 'Help to Buy Cymru' scheme, to help people to purchase new build homes.
- £174.5m for Help to Buy Cymru - a new shared equity scheme for Wales to help people to purchase new build homes
- £20m for the Social Housing Grant - to provide smaller properties to support families who have been displaced as a result of reductions in housing benefit
- £40m for dualing of the A465 between Gilwern and Brynmawr
- £40m for improvements to the M4 Brynglas Tunnels
- £17m for improvements to the A55 in North Wales
- £38m for health facilities - including the final phase of the Noah’s Ark Children’s Hospital for Wales
- £6m for Flying Start - to ensure a further 3,000 children and their families benefit
- £70m for ARBED ECO - a scheme to improve the energy efficiency of Welsh homes focusing on those in fuel poverty
£175.5m of the Welsh Government's infrastructure investment will go towards transport and flood defences.
It includes £62m for Phase 1 of a new scheme to create a South East Wales metro system through better bus and rail links.
The metro scheme aims to connect Cardiff, Newport and the Valleys as part of a wider city region.
The Welsh Government says it will commence this year.
£3.5m funding is allocated for 2013-14, with £28.7m for 2014-15, and £29.8m for 2015-16.
The Welsh Government Finance Minister is unveiling more than £600m capital investment funding, which Jane Hutt said was "a clear demonstration or our determination to stand up for Wales."
She also called on the UK Government to devolve stamp duty to Wales, and announced £32m to complete the Noah's Ark Children's Hospital for Wales in Cardiff.
JH: "We want to do more to support housing & first time buyers. I repeat my call to the UK Govt to devolve Stamp Duty" #welshbudget14
JH: "We will invest £32m in new health facilities, inc funding to complete the Noah's Arc Children's Hospital for Wales" #welshbudget14
JH: "This significant package of investment is a clear demonstration of our determination to stand up for Wales" #welshbudget14
The Welsh Government has announced more than £600m of funding for infrastructure, which it says will create 11,000 jobs.
Finance Minister Jane Hutt says that among the schemes given investment will be a much-talked about metro scheme for South East Wales.
JH: We will invest £170m in housing - inc £140m for Help to Buy Cymru which will help buyers purchase a new home #welshbudget14
The Welsh Government will announce this morning which major projects it will fund in the coming year.
The Finance Minister Jane Hutt is due to lay out "a substantial package of capital investment", as part of spending proposals for 2014-15.
The Draft Budget was unveiled yesterday, with an extra £156m for the health service.
Local authorities and education will see their funding cut.
The Welsh Government has unveiled its draft budget for next year with more money for housing, transport and health. Our political reports Owain Phillips reports on what this will mean to communities across Wales.
To tackle youth unemployment, we will extend Jobs Growth Wales to create 4,000 extra job opportunities for young people #welshbudget14
This will take the total number of job opportunities created from 12,000 to 16,000 #welshbudget14
We will invest a further £20m in 14/15 to support apprenticeships in Wales #welshbudget14
At first glance it seems every other Welsh Government department will see its budget cut in order to pay for the increase in spending on the NHS. It adds up to £100m cut for 2014/15. Local government takes the biggest hit, losing £98m from its allocation for 2014/15. The other departmental cuts are:
- Economy, Science Transport - £26.9m
- Education and Skills - £77.5m
- Natural Resources and Food - £22.2m
- Housing and Regeneration - £6.6m
- Culture and Sport - £4.3m
- Central administration - £4.1m