Shminky Binky wrote:Simon__200 wrote:You're right, It is tempting to feel disappointment that one of the largest ever investment projects is not now happening.
However, if you had £1.4bn of cash, there is surely better use you can put it to than a 14 miles stretch of elevated concrete across a nature conservation area, as if there was no other solution. Especially after recently declaring an environmental emergency. That declaration would have looked like pointless lip service, if they'd followed through with this scheme.
That £1.4bn cash is only for the black route M4. The UK Government will now take away most of the £1.4bn on offer.
That's not correct. Wales has £1bn borrowing capacity which is currently untouched. The original plan was to use it all for M4. When the predicted costs rose to £1.3bn, Welsh government asked UK govt for the right to increase their borrowing powers by an extra £300m. UK govt said they would consider it because they wanted M4 relief road. This caused an argument as Welsh govt said that UK govt can't dictate what Wales' borrowed money is spent on.
Anyway, the current situation is that as far as I can see, the extra £300m borrowing capacity wasn't officially agreed, but was likely to have been OKd if the new road was built. WIthout the new road, there is still £1bn borrowing capacity that the Welsh government has at it's total control.