GOV.UK Lorem

We choose to invest in our economic infrastructure because it can transform the growth potential of our economy, as well as improving the quality of people’s lives.

Mr Speaker, economically productive infrastructure directly benefits businesses. But families, too, rely on roads, rail, telecoms – and, especially housing.

The UK government is also making further investment in digital infrastructure such as fibre broadband and 5G – this will ensure that businesses across Wales are well placed to take full advantage of the opportunities presented by new technologies, and reap the benefits of greater connectivity.

In 2018-19, debt is projected to fall to 89.7% of national income - the first fall in the national debt as a share of GDP since 2001-02.

While the OBR is clear that it cannot predict the deal the UK will strike with the EU, its current view is that the referendum decision means that potential growth over the forecast period is 2.4 percentage points lower than would otherwise have been the case.