'Think hard' about Metro needs - Admiral boss

About £600m is to be spent on a new metro for south east Wales within five years, it is understood.

It is likely to be a mix of light rail, trams, improved trains and faster buses by 2020 in Cardiff and the Valleys.

It is in addition to planned rail electrification and will run as a "not-for-dividend" part of the next all-Wales rail franchise from 2018.

The economy minister will task rail and business experts to finalise plans before work starts in 2017.

David Stevens, chief operating officer at insurance group Admiral, which has offices in Newport and Cardiff, has been appointed to a panel to look at the best solution.

He told BBC Wales economics correspondent Sarah Dickins it was important to address commuters' needs and not just go for a big headline project.