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
A mother from Cardiff has held a fundraising event to help keep the memory of her stillborn son alive.
We featured the story of Ted Owens' heroism in 2012 when he returned to the spot where he was wounded during the Normandy landings.
Sunny spells during the evening with isolated showers easing away, although it will cool off quite quickly.