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Looking ahead, the cash figure for 2020 is inevitably very uncertain. However, using October 2016 data, we estimate 60 per cent of median earnings will be £8.61, within a range of £8.50 to £8.73. This is down from £9.16 in the spring’.

The Government’s position is clear. This is a prerogative power and one that can be exercised by the Government, and we aim to prove that in the Supreme Court. Both Houses of Parliament legislated for the referendum, with cross-party support, and it was clear that it was for the people to decide whether to remain in the EU or leave it.

With a new £2.3 billion Housing Infrastructure Fund to deliver infrastructure for up to 100,000 new homes in areas of high demand.

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.

Because, ultimately, tackling water insecurity at a global level will need to be a joint effort and a joint investment, one requiring regional cooperation. Holding this Security Council session is an important step towards that collective, cooperative effort. And we shouldn’t underestimate the scale of the challenge ahead. The global investment deficit for water governance and infrastructure alone is $198 billion per year.