It will become the second toll road in Britain - following the M6 in Staffordshire - and will run between junctions 23 and 29 of the M4 to relieve congestion on the outskirts of Newport.
The newspaper reports that the Chancellor will agree to guarantee loans for the building of the M4 relief road, but the devolved Welsh government will meet the cost - expected to be around £830 million.
More top news
The former Tory leader is helping to raise awareness of breast cancer in men, by talking about the death of his Llanelli businessman father.
Wales' late brace in the dying moments of the game wasn't enough to come away with a victory against Ireland in Dublin.
The family of Scott Bessant have appealed to the police watchdog regarding the investigation into the incident six months ago.