A MAJOR Labour Party figure yesterday said delays to Welsh borrowing powers that could bring the M4 relief road to fruition are putting the nation’s prosperity at risk.

Shadow Chief Secretary to the Treasury Rachel Reeves, who was on a visit to the Newport-based international food firm EuroFoods, said the road is crucial to jobs in Wales.

A Government response to the recommendations of the first part of the Silk Commission to devolve some tax and borrowing powers, which could make the M4 Relief Road a reality, was meant to have been published laste Spring.

But negotiations between Welsh and UK Governments have continued. A consultation on devolving stamp duty closes on Tuesday.

Ms Reeves said: “The Welsh Government want those tax powers especially around stamp duty land tax, crucially so they can borrow to fund important infrastructure investment, not least the M4 relief road.

“The M4 relief road investment will be really important to businesses like this and critical for jobs in Wales.

“The government sitting on their hands and delaying and delaying is putting at risk Welsh economic growth and prosperity.”

In the wake of the GMB union announcing it would cut its contribution to Labour party Ms Reeves said that public funding for parties “is an option” but added: “It is not the option right now.”

“The Labour Party is doing all we can to build our membership base," she added.

A Wales Office spokesman said: "The Government will now finalise its response to Silk and then work with the Welsh Government to consider how this can help support a funding solution for the M4 improvement scheme."

Euro Foods employs 1,500 people worldwide and around 150 people in Newport. Newport East MP Jessica Morden, who joined Ms Reeves on the visit, said: “I am proud to accompany Rachel Reeves to visit the ever expanding Newport success story that is Euro Foods. “