THE removal of the tolls on the Severn Crossings allows the creation of a new economic region which could rival the likes of the Northern Powerhouse and the Midlands Engine, according to Welsh Secretary Alun Cairns.

Mr Cairns extolled the opportunities the removal of the tolls will bring at the first Severn Growth Summit in Newport on Monday 22nd January.

The summit brought together a sell-out audience of more than 350 guests from business, education, cultural and digital sectors on either side of the Severn Crossings.

Mr Cairns hoped that this would be the beginning of a rapidly growing relationship, he said: “I want this event to be the catalyst that forges new partnerships with innovators, inventors, job creators, local leaders, workers and consumers.

In his speech Mr Cairns highlighted the cost the tolls have had on the region, he said: “60,000 journeys are made between England and Wales on the M4 each day – that’s almost a fifth of all road journeys between England and Wales.

“By ending the tolls for the 25 million annual journeys across the Severn, we will create a natural economic growth corridor spanning Cardiff through Newport to Bristol.

“This commitment will save commuters £1,440 a year, equivalent to £115 per month. And hauliers will no longer pay £20 for every truck transporting goods – this will be profound change to the economic landscape.”

With this barrier set to disappear Mr Cairns encouraged those at the summit to make the most of the new opportunities, he said:

“But by pooling our resources, expertise and experiences, we can deliver ideas and projects that will not only benefit the cities of Bristol, Cardiff and Newport but the wider South Wales and South West England regions as well.

“It’s clear this region is a true powerhouse of the UK economy.

“So let’s use our bridge, our new-found connectivity to lead together and champion this great region.”

After Mr Cairns addressed summit the rest of the event featured talks and interactive sessions from senior representatives from sectors as diverse as transport, logistics, property, tech and finance.

It also provided an opportunity for business leaders to meet political decision makers face to face and hammer out a successful path for closer cross-border collaboration.

Monmouth AM Nick Nick Ramsay was one of the hundreds of guests and praised the coming together of industries.

He said: “It was interesting to hear the views from delegates from the business world, local authorities and academia.

“The abolition of the Severn Bridge tolls will provide an invaluable opportunity to develop the South East Wales economy.”