An M4 relief road in south Wales could get the backing of the Treasury as a toll road, according to press reports.
Both The Times and Independent report that the Chancellor will announce plans to support a new toll motorway in June's comprehensive spending review.
If approved, it would be the UK's second toll motorway after the 27-mile (43km) M6 Toll which opened in 2003.
In 2009, the Welsh government dropped plans for an M4 relief road around Newport after the cost rose to £1bn.
Talks are continuing between the UK and Welsh governments about ways to fund improvements to the M4 in south Wales.
Neither has commented directly on the latest press reports, but the Welsh government pointed to a statement last month that it was "following due process" on the issue of easing the congestion on the M4 around Newport.
CrashesBoth newspapers report that funding for a relief motorway will be guaranteed by the Treasury to allow the Welsh government to build the road and then to repay the loan at least in part by raising tolls.
Employers' group the CBI has called a relief road to ease congestion on the M4 near Newport a "clear priority".
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Business leaders say traffic jams, particularly after crashes which close the motorway, are bad for the economy of south Wales.
Plans for a 14-mile road to ease congestion on the M4 around Newport, between junctions 23 and 29, were announced in 2004.
The scheme was estimated to cost at least £350m and was due to open in 2013, with the possibility that it would be partly financed by tolls.
When the scheme was scrapped in 2009, its likely cost had risen to £1bn.
Ieuan Wyn Jones, then deputy first minister and transport minister, said at the time that putting tolls on the "unaffordable" proposed new road would have reduced its economic effectiveness.
'Better ways'Journalist Mickey Clarke of the Financial Times told BBC Radio Wales: "It's worth pointing out though that the M6 Toll in the Midlands - a similar project there - hasn't ever made any money. People won't pay it. That's the trouble."
Nick Payne, regional director of the Road Haulage Association, welcomed the idea of the proposed new motorway going ahead but was against the prospects of tolls.
He said: "The M6 Toll road hasn't been massively successful as far as the transport industry is concerned. I don't know whether or not the haulage industry in Wales can afford to be paying yet another toll after paying so much money to get across the bridge every day."
Matt Hemsley, spokesman for the transport charity Sustrans Cymru, criticised the M4 relief road as "poor value for money", saying investment in public transport would do more to ease congestion.
"The Welsh government acknowledges that 40% of journeys on this stretch of the M4 are local trips of under 20 miles," he said.
"By making it easier for people to walk, cycle and catch public transport we can ease congestion, improve our health and save the economy billions."
Proposals for an M4 relief road have also faced criticism by environment campaigners who fear damage to the Gwent Levels Sites of Special Scientific Interest (SSSIs).
In February 2012 the Welsh government announced plans to turn an old access road through Llanwern steelworks into a £13m dual carriageway to link south Newport with the M4, claiming it would help relieve congestion.
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