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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

And in doing so, to build an economy that works for everyone…and where every corner of this United Kingdom is part of our national success.

The apprenticeship support and knowledge for schools (ASK) project will deliver apprenticeship and traineeship information to young people in years 10, 11, 12 and 13. This will ensure young people are aware of all the options available to them.

This Bill does not prejudge the negotiation. It will not affect when the Prime Minister triggers Article 50 of the Lisbon Treaty, which is what starts the process of our negotiation for leaving the EU.

Insurance Premium Tax (IPT) will increase from 10% to 12%. IPT is a tax on insurers and it is up to them whether and how to pass on costs to customers.