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The growth corridor between Cambridge Milton Keynes and Oxford could help fire the British economy, but only if we back it with the homes and infrastructure it needs to thrive. Last week the NIC presented the compelling case for investment in East West rail and the Oxford Cambridge Expressway, as part of a wider joined up plan to help this region succeed. This is a once in a generation opportunity and the government is absolutely right to accept those recommendations.

And finally, £390 million to build on our competitive advantage in low emission vehicles and the development of connected autonomous vehicles; plus a 100% first year capital allowance for the installation of electric vehicle charging infrastructure.

Investment will support the private sector to roll out more full-fibre broadband by 2020-21. Funding will also support trials of 5G mobile communications.

These measures – and others set out in the Autumn Statement document – raise around £2 billion over the forecast period.

Universal Credit is an important reform to our benefits system and is designed to make sure work always pays. We want to reinforce that position.