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We will shut down inappropriate use of the VAT flat rate scheme that was put in place to help small businesses;

The 4.2 per cent increase keeps the National Living Wage on course for the 2020 goal. The recommendation was a finely balanced decision. On the one hand, it is a significant increase at a time of average pay growth of around 2 per cent and should help protect low-paid workers from the higher inflation likely to result from the depreciation of sterling. On the other hand, it is lower than we previously projected and should help manage risks to employment.

With a new £2.3 billion Housing Infrastructure Fund to deliver infrastructure for up to 100,000 new homes in areas of high demand.

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.

Economic infrastructure (transport, energy, flood defences, water, waste, and digital communications) is crucial for the economy and for people’s daily lives. The government has put infrastructure at the heart of its economic strategy and has set up the National Infrastructure Commission (NIC) to provide expert advice on the country’s strategic infrastructure needs and independent recommendations on how to meet them. At Spending Review 2015, the government announced it would increase transport spending by 50% to invest £61 billion in this Parliament. Including the additional investment provided by the NPIF, annual central government investment in economic infrastructure will increase by almost 60% from £14 billion in 2016-17 to £22 billion in 2020-21.13