Welsh Govt: Talks 'continuing' over borrowing powers

The Welsh Government have refused to comment on reports that the UK Government will soon announce plans to back a new M4 relief road around Newport.

In a statement they said that they "do not comment on speculation."

We have been pressing the UK Government for access to borrowing powers in order to finance infrastructure investment. Those talks are continuing.

Meanwhile, we continue to consider the large volume of responses to our consultation on M4 corridor enhancements from Magor to Castleton.

– Welsh Government spokesperson

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Osborne: No tolls for M4

The Chancellor has confirmed that there be no tolls on any new M4 relief road. George Osborne made the comments on a visit to Cardiff. It follows reports that the UK Government would guarantee borrowing by the Welsh Government to pay for a new road.