Welsh Government to raise £500m to spend on schools and Heads of the Valleys road

The Welsh Finance Minister has unveiled new plans to raise the cash to pay for new schools buildings and a major road project. Speaking as AMs vote on next year's budget, Jane Hutt said that the Welsh Government would harness local councils' borrowing powers to raise £200m for building new schools.

She said it would mean the 21st Century Schools scheme would be delivered two years early. The minister also announced plans to raise money from private sources to finish the dualling of the A465 Heads of the Valleys road.

Government sources say that would involve a non-profit making 'mechanism' rather than controversial PFI style schemes.

Advertisement

Welsh Govt budget deal

The Welsh Government has agreed a deal with Plaid Cymru which would allow Labour to get its spending plans through the Assembly.