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The leaders discussed the recent US election and the Prime Minister emphasised that a strong transatlantic relationship remains the foundation of global security and prosperity. They also discussed Russia and the importance of finding a solution to the conflict in Syria.

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.

As well as taking millions of ordinary people out of tax, the government introduced the National Living Wage and gave a pay rise to over a million workers.

Most significantly for Scotland is the £800 million of extra capital funding. This is as a result of the Chancellor’s decision to invest in infrastructure, but it is for the Scottish Government to step up now. If it is used properly by the Scottish Government, this will make a real difference to productivity, jobs and growth in Scotland.

These reforms will fundamentally transform banking for personal customers and small businesses. They will break down barriers, increase competition and give customers control over their own money.