Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the borrowing capacity announced for the M4 relief road will still be available to the Welsh Government following the cancellation of that project.
HM Treasury ministers and officials have regular discussions with counterparts in the Welsh Government on a number of issues of importance for Wales and the rest of the UK, including infrastructure.
At Budget 2018, the Chancellor committed to review the Welsh Government’s capital borrowing powers at the forthcoming Spending Review, to consider whether the borrowing cap should be increased by up to £300 million to support the delivery of a new M4 relief road. We will work with the Welsh Government to consider this review in light of their announcement that they will not be taking forward the M4 relief road project.