The Labour-led Welsh government is facing a 40% cut in its capital budget - which pays for buildings and infrastructure - over three years.
There was a pressing need to give the Welsh government borrowing powers, he argued, citing a big cut in its capital spending budget as a result of a UK-wide public spending squeeze.
This manifests in a variety of ways, including the glacial pace of progress on an international, legally-binding climate agreement, the relatively low priority given to the Convention on Biological Diversity, the lack of understanding of the importance of natural capital in ensuring human survival, and the tiny budget allocated to conservation in most countries.
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The other half would come from savings and reallocation in the current capital budget, she said.
The move is likely to be part of a package of spending cuts and tax hikes, including a sharp rise in the capital gains tax, to cure a gaping hole in the budget.
It accuses Education Secretary Michael Gove of making a "complete mess" of the schools capital budget, not least in axing BSF, including halting planned rebuilds for hundreds of secondary schools.
The debate which is just beginning in government is whether to go further by increasing capital spending above and beyond the totals outlined in the Budget.
Council leader John Hart said the money would be included in the authority's capital budget.
There had been particularly big cuts to the Welsh government's capital budget which pays for investment in buildings and infrastructure, she said.
That is why as shadow chancellor I have pledged to match three years plans for current and capital education spending set out in the recent Budget.
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Long Term Leases : Purchasing land and constructing a factory and office building can take up a large part of the capital expenditure budget for a new project in China.
In a 2006 Congressional Budget Office analysis, Bill Randolph found that international capital mobility could result in American workers bearing 70 percent of U.S. corporate taxes.
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The Welsh government will doubtless be disappointed, but hardly surprised, if the chancellor does not agree to reverse previously announced cuts in its budget although it is in line for a share of any extra funds for capital projects such as new transport schemes.
And more in that budget announcement about the big capital projects that are needed to keep transport moving.
Protesters have clashed with riot police in Slovenia's capital Ljubljana during a rally against budget cuts and alleged corruption.
So one of the things that we have already proposed and is reflected in our budget is that we are eliminating capital gains taxes for small businesses.
The health secretary also said the real-terms cut to the health budget reflected the cut in "traditional capital spending of 36%" and that NHS resource spending in Scotland had been protected.
The ad hoc response to the Greek crisis may partly reflect a fear that a formal set-up with a staff, budget and the ability to raise funds in capital markets would be too close to a fiscal union for many countries to stomach.
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Among other things, the new budget is likely to mean a sharp drop in government capital expenditures.
At a time when budget cuts are causing unease in the nation's capital, the moguls behind Jordache Enterprises Inc.
This fiscal myopia is especially pronounced in the defense budget, where the government makes most of its capital investments.
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Due to its inability to pay its debts and a mutual desire to keep Greece in the eurozone, Greece has had to accept various external conditions from the EU regarding its budget and national economic policies in exchange for forbearance and additional capital.
The Welsh government says that by 2014-15 its capital budget will be 40% lower after allowing for inflation than it was in 2010-11.
The first is that governments running large and potentially unsustainable budget deficits have to pay a risk premium for borrowing in the capital markets.
Even with the daily protestations that marketing is an investment and not a cost, in deference CMOs know their media budget is second or third on the capital expenditure list, and disconsolate CFOs are struggling to bring down overhead.
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In a given year, as much as 70% of Regal-Beloits capital budget may go toward used equipment.
"The next step would be to give a clear sign that we are heading toward a balanced budget, " said Jose Vistan, associate vice president for research at AB Capital Securities in Manila.
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Ministers in Cardiff have been looking for other "innovative" ways to make up for cuts to their capital budget.
Budget funds related to these projects are expected to be in place earlier than planned, Barclays Capital said in a Wednesday morning comment.
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