3. Statement by the First Minister: The M4 Corridor around Newport

Part of the debate – in the Senedd at 3:50 pm on 4 June 2019.

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Photo of Mark Drakeford Mark Drakeford Labour 3:50, 4 June 2019

Llywydd, thanks to Jack Sargeant for those points. I assure him that we intend to use the borrowing capacity that we have as a Welsh Government to the fullest extent. Can I point out to Members—as I have reasonably often in discussions with the leader of Plaid Cymru—that every £20 million we borrow for capital purposes costs us £1 million in revenue and that at a time when revenue is particularly short, that has to be put into the balance as well, but the Welsh Government's budget plans allow us to draw down the full amount of borrowing that's available to us? And, of course, the point that Jack Sargeant makes is echoed in what Nick Ramsay said. I've repeated my commitment to Newport and to making its needs the top of the list for money, but all parts of Wales have needs; all parts of Wales have transport issues that they face; all parts of Wales need investment in education, in housing, in health services. And I know that around the Chamber and in the comments that the inspector received, there were anxieties at the amount of investment that was being concentrated in one project and in one part of Wales. So, I understand the point that is being made. For me, none of that detracts from the need to resolve the issues that the report was set up to investigate.

And as far as a climate emergency is concerned, as I said in my statement, that is very much a matter for the commission, to draw up its proposals in the new context that the climate emergency, the UK CCC's report, and the work of the UN now bring to the table in relation to environmental impact.