Diolch yn fawr, Llywydd. Today we are publishing the final report of the independent roads review panel. This is a landmark report of international significance, and I'd like to thank Dr Lynn Sloman and her fellow panelists. Their report is detailed, authoritative and compelling, and the Welsh Government accepts its core principles and the new approach it sets out.

When we published the Wales transport strategy two years ago, we committed to start upon a llwybr newydd, a new path. The publication of this roads review, along with the national transport delivery plan and our new roads policy statement, represents a major step forward on that journey. Let me be very clear at the outset: we will still invest in roads. In fact, we are building new roads as I speak, but we are raising the bar for where new roads are the right response to transport problems. We're also investing in real alternatives. Today's national transport delivery plan sets out a five-year programme of investment in rail, bus, walking and cycling projects. Modern successful economies have modern successful public transport systems. Ours has withered on the vine of privatisation, and that must change. Of course, doing that in an age of austerity is very challenging. Not only are we not getting our share of High Speed rail investment, but the UK Government is pushing many bus services over a cliff edge, as well as slashing our capital investment budgets. Even if we'd wanted to keep progressing all the road schemes in the pipeline, we just do not have the money to do so. Our capital budget will be 8 per cent lower next year in real terms as a result of the last UK Government budget. So, when the Conservatives criticise us, they should remember the financial reality of their making: the roads programme is simply unaffordable. With fewer resources it becomes even more important to prioritise, and the roads review helps us to do that.

Road schemes take many years from the first plan on the page to the first shovel in the ground. This means most of the schemes currently in development in Wales were conceived before we declared a climate and nature emergency and before we set stretching policy commitments in the Wales transport strategy, the programme for government and Net Zero Wales. The roads review looked at each of the 55 schemes in development and tested them against our current policies. The panel sets out their detailed view on each one in their report, along with a set of purposes and conditions for future road investment.