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We are working closely with the devolved administrations to get the best possible deal for all parts of the UK as we leave the EU. The Prime Minister is committed to engaging with the Joint Ministerial Committee, bringing together the devolved administrations and the UK Government. This will ensure cooperation and consensus between governments.

On counter-terrorism, they agreed that police and the security services should continue to work closely together to ensure the safety of both UK and Belgian nationals. They stated that this was a good example of the strong connection between our 2 countries.

The main rate of corporation tax has already been cut from 28% in 2010 to 20%, and will be cut again to 17% by 2020, by far the lowest in the G20 and benefitting over 1 million businesses.

By injecting an additional £400m into venture capital funds through the British Business Bank, unlocking £1 billion of new finance for growing firms.

The OBR’s forecast of higher borrowing and slower asset sales, together with the temporary effect of the Bank of England’s action to stimulate growth, translates into an increased forecast for debt in the near-term.