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Our countries are deeply connected, by history, by our diasporas and by our businesses. It was no accident that Theresa May’s first visit as Prime Minister outside of Europe was to India, a clear statement of our commitment to and belief in India as an equal partner. Our future stability and prosperity are mutually reinforcing. The UK is the largest G20 investor in India, investing more than the US and Japan together, while India invests more into the UK than it does the rest of Europe combined. Two weeks ago, I was with both our Prime Ministers at the TECH Summit, an event that showcased the best of Indian and UK innovation in a variety of key sectors including healthcare and life sciences, automotive, energy, water and smart cities. Innovation and entrepreneurship sat at the heart of the Summit, including in a two day hackathon. As Narendra Modi said ‘Science, technology and innovation have a significant role in India’s bilateral engagement with the UK’.

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

The new format sets out clearly the ‘stage 1’ and ‘stage 2’ checking process followed by our caseworkers. This in line with our approach for civil certificated billing.

Our future transport, business and lifestyle needs will require world class digital infrastructure to underpin them. So my ambition is for the UK to be a world leader in 5G.

Scotland is also benefiting with more than £3.3 million of LIBOR funding raised from fines levied on banks being distributed to good causes.