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We said in our last report in February that, in the absence of economic shocks or other strong evidence, we thought that the default for the NLW would be a straight line rolling path to the 60 per cent target - spreading our (annually updated) estimate of the increase in relative value needed to hit the target evenly over the remaining years to 2020. Our recommendation today reflects this approach, but the cash level is somewhat lower than expected in the spring when we projected £7.64 for April 2017. This reflects automatic adjustment in the level of the NLW target in view of weaker pay growth and forecast pay growth.

The challenge of delivering the housing we so desperately need in the places where it is currently least affordable is not a new one…

The development of Open Banking – the use of technology to provide customers with more control over their accounts and financial services – is one of 17 CMA-imposed changes that will make banks work harder for their customers.

The UK government’s decisions today mean a secure economy based on the broad shoulders of the UK, more funding and more powers for Scotland.

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.