£1.2bn city deal backed by Cardiff council
A £1.2bn deal to boost economic growth in south east Wales has been backed by Cardiff council.
The Cardiff Capital Region City Deal will see £734m invested in the Metro transport scheme and £495m on other projects.
Cardiff council backed a report on the deal at a meeting on Thursday evening.
Rhondda Cynon Taf and Merthyr council have already formally supported the deal while Monmouthshire and Blaenau Gwent also backed the plan on Thursday.
The other five councils will vote on the agreement over the next few weeks, with Caerphilly, Newport and Torfaen to discuss the proposal on Tuesday.
Phil Bale, Cardiff council leader, said the city deal was "crucial".
"We're a central part of a region that makes up over half the Welsh economy, yet the Cardiff capital region lags behind our counterparts in England and UK cities are even further behind their counterparts in Europe," he said.
"Over its lifetime we anticipate the deal will deliver up to 25,000 additional new jobs and leverage an additional £4bn in private sector investment."
He said the deal would "grow our economy and create new employment", adding: "This is a significant moment in the history of both this city and the region."
It follows concerns Mr Bale would struggle to persuade his Labour group to back the plan without more detail on individual projects.
The 10 local authorities involved - expected to contribute a total of £120m - will be "locked in" to the deal for five years before any can quit.