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We are carrying out a programme of sectoral and regulatory analysis, which will identify the key factors for British businesses and the labour force that will affect our negotiations with the EU. This will help inform our negotiating position and build a detailed understanding of how withdrawing from the EU will affect our domestic policies, to seize the opportunities and ensure a smooth process of exit.

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.

Businesses, economy and tax experts like the International Monetary Fund, Institute for Government, the CBI, Chartered Institute of Taxation and the IFS have all been calling for this change. It will mean businesses and people face less frequent changes to the tax system, helping to promote certainty and stability.

At the Budget we committed to removing the tax benefits of disguised earnings for employees, and I am now going to do the same for the self-employed and employers, raising a further £630 million over the forecast period.

So I welcome the Commission’s continuing work on delivery model options, and we will carefully consider its final recommendations in due course.