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Welsh Government sets out capital spending plan

M4 Wales design 2by3A

The Welsh government has set out a multi-million spending plan for the next four years, including £900M for the M4 relief road and £369M on metro projects.

The aim of the plan is to provide security for the construction sector and stakeholders as well as demonstrate the government’s commitment to the projects.

It comes alongside the government’s draft budget for 2017-18.

“This is a budget to Take Wales Forward – it is about providing stability and ambition in uncertain times,” said finance secretary Mark Drakeford.

He added: “In these uncertain times, we have published a one-year revenue budget, which will provide stability and assurances for our valued public services in the immediate future while we work collectively to plan for the future. Similarly, our four-year capital plans will give security and confidence to our key stakeholders, local construction sector and business.

“And this is also an ambitious budget. It makes progress in delivering our ambitions for Wales and against the key commitments in our programme for government. It also reflects the budget agreement we have reached with Plaid Cymru.”

The government’s main infrastructure projects outlined in the plan are:

  • £1.36bn towards the delivery of 20,000 affordable homes;
  • £900m for the M4 relief road, subject to the outcome of the public inquiry;
  • £369m towards a South Wales Metro and funding to take forward proposals for a North Wales Metro;
  • £300m for improvements to our motorways and trunk roads;
  • £46m for a new Welsh Development Bank to support our business sector;
  • Supporting city and growth deals across Wales.

 

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