PLANS which could see tolls on the Severn Bridges cut by more than 50 per cent have received an enthusiastic reception.

On Thursday the UK Government announced it had launched a consultation into plans to drop tolls on the crossings once the bridges return to public ownership, which is expected to take place either at the end of this year or early 2018.

The new tolls will be £3 for cars, vans and small buses and £10 for lorries and coaches.

Although the consultation includes plans to introduce tolling in both directions, the proposed tolls represent a two-way journey meaning car drivers would be charged £1.50 each time they cross the bridge.

Monmouth MP David Davies said he was “delighted” by the news.

“It’s something I’ve been campaigning for for years,” he said. “It’s very good news for the economy.”

Although the Conservative MP said in “an ideal, wonderful world” he would like to see tolls scrapped altogether, he conceded the ongoing maintenance costs of the bridges needed to be covered.

“£3 is as good as it is going to get and im am delighted about it,” he said. “I know a good deal when I see it.”

Welsh secretary Alun Cairns described the plans as “an excellent opportunity”.

“I’ve spoken to the Argus several times about our plans to halve the tolls, but as we are closer to the time I’ve been able to look at changing it to £3, or £1.50 either way,” he said.

“It demonstrates that Wales is open for business and gives a boost to companies in Newport, Chepstow and Monmouth.”

He added, with the UK set to leave the European Union in the near future, he hoped the plans would help alleviate the concerns of businesses in the area.

Mr Cairns also said the planned reductions would come into place as soon as possible.

“I promise the Argus readers I will act as soon as I can on this,” he said.

The Department for Transport is also looking into removing the toll barriers altogether and introducing freeflow numberplate recognition technology, which would allow motorists to drive straight through without having to stop.

The UK Government’s transport secretary Chris Grayling said he hoped as many people as possible would take part in the consultation.

He said: “This is something which is positive for Wales, for the people of Wales and for businesses.”

He added the proposed new charges had been set at round numbers in an effort to make it easier for drivers paying in cash.

While tolls for cars are currently £6.70, vans and small buses pay £13.40, meaning the proposed decrease would represent a drop of more than 75 per cent. Lorries and coaches currently pay £20.

Although last year then-chancellor George Osborne announced the tolls would be halved from this year, this represents a bigger decrease.

Highways England will manage the bridges once they return to public ownership.

Visit gov.uk/government/consultations/severn-crossings-proposed-toll-reductions.