9. 8. Welsh Conservatives Debate: The Welsh Economy

Part of the debate – in the Senedd at 4:14 pm on 24 May 2017.

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Photo of Jayne Bryant Jayne Bryant Labour 4:14, 24 May 2017

A Welsh Government report found that if the tolls were scrapped, there would be an estimated 12 per cent increase, equivalent to about 11,000 vehicles a day, in traffic volumes. This impact would have a major effect on congestion in Newport, especially in the Brynglas tunnels. Already, an estimated 80,000 vehicles use the crossing every day, and any increase in this makes a solution to the congestion at the Brynglas tunnels even more critical. I know that the Cabinet Secretary recognises the importance of this.

The second point is the effect that this will have on house prices in Newport and the surrounding areas. The Bristol house market is booming, with the average house price hovering around £290,000. In Newport, the average house price is £170,000. Newport is a fantastic place to live and visit. It has lots of wonderful parks, green spaces, a range of historical sites, and it’s been boosted by the redevelopment of the city centre in Friars Walk. It has excellent transport links and a strong community spirit.

The combination of cheaper house prices, the tolls being scrapped, and the attraction of Newport as a place to live—we could see a surge in people moving from Bristol to Newport. This will have a dramatic effect on local house prices. Indeed, there’s already evidence that parts of Monmouthshire in close proximity to the bridges have experienced a spike in prices. This, of course, is fantastic news for local homeowners, but we must be mindful and careful that local people, particularly young people, aren’t priced out of buying a house in the area they grew up in. Although Newport City Council and the Welsh Government are doing their best, there are still not enough affordable homes in Newport. A surge in house prices over a relatively short period of time could exacerbate this situation.

And, finally, while I very much welcome the Tories’ epiphany moment on this, some may say it’s cynical electioneering, with another u-turn. The Tory UK Government has been dragging their feet for far too long. Some Members here are very new to the issue, and I’d like to pay tribute to Labour Members in particular, over many years, who’ve campaigned on this issue—