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That investment is only possible because the government is prepared to take the tough decisions to maintain control of current spending.

And I can confirm today that, despite the challenging fiscal forecasts, we will deliver on our commitment to raising the allowance to £12,500, and the higher rate threshold to £50,000, by the end of this Parliament.

We will always support a market led approach; but we will not be afraid to intervene where there is evidence of market failure.

So this Autumn Statement commits significant additional funding to help keep Britain moving now, and to invest in the transport networks and vehicles of the future.

But no other major developed economy has such a gap between the productivity of its capital city and its 2nd and 3rd cities.