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<p>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.</p><p> </p><p>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.</p>
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