Labour ministers have written down nearly £79 million of the remaining asset value of costs associated with the development of the M4 corridor around Newport scheme.
Welsh Conservative Shadow Minister for Transport, Natasha Asghar MS, said:
“This is yet another kick in teeth for hardworking taxpayers, with yet more money lost thanks to Labour’s ‘road to nowhere’.
“Labour spent hundreds of millions of pounds preparing for the M4 relief road project only to break its promise to the Welsh public.
“As well as a huge financial loss, the decision has also left commuters, residents and visitors without a solution to the M4’s major congestion problems.
“The First Minister must come clean with specifics on what assets have decreased in value, and finally make an apology to Welsh taxpayers.”