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How this increase in funding will be allocated will be decided by Northern Ireland Ministers, and will be set out by the Finance Minister when he presents his budget to the Northern Ireland Assembly next month.

At a working dinner at Lancaster House with the Secretary General this evening Sir Michael praised the NATO’s Enhanced Forward Presence commitment in the Baltic States in the face of an increasingly assertive and unpredictable Russia.

The government’s long-term investment decisions will be informed by the NIC to ensure they are targeted at the UK’s most critical infrastructure needs. To ensure the NIC’s recommendations are affordable, the government has set the NIC a fiscal remit. Government investment in the areas the NIC covers will rise to over 1% of GDP by 2020-21. The fiscal remit invites the NIC to set out recommendations on the assumption that spending on infrastructure will lie between 1% and 1.2% of GDP each year from 2020 to 2050. This would mark a sustained, long-term increase in infrastructure investment. The government will take all final spending decisions.

I want departments to be incentivised to drive efficiencies. And I want the Treasury to be an enabler for good, effective spending across government.

The UK has a range of offers for budding entrepreneurs, including the Sirius Programme which supports graduate entrepreneurs from around the world looking to start their venture in the UK, the Global Entrepreneurship Programme that helps overseas entrepreneurs and early stage technology businesses or start-ups that want to relocate their business to the UK. We also offer our largest global scholarship scheme anywhere in the world here in India, led by our flagship Chevening Scholarships and Fellowships for Future Leaders, as well as Commonwealth Scholarships and British Council awards. Please do help get the word out to your best and brightest students.