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This government recognises that for too long, economic growth in our country has been too concentrated in London and the south east.

Our Midlands Engine strategy will follow shortly, but I am today providing funding for the evaluation study for the Midlands Rail hub.

Since 2010 we’ve cut income tax for 28 million people and taken 4 million people out of income tax altogether.

In order to raise revenue, which is required to fund spending commitments I am making today, it will rise from 10% currently, to 12% from next June.

Once £12,500 has been reached, the personal allowance will rise automatically during the 2020s in line with inflation, rather than the National Minimum Wage as currently planned.