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The Government will work on subsequent funding arrangements as part of our negotiations to leave the EU and will give more information in due course.

Our countries are deeply connected, by history, by our diasporas and by our businesses. It was no accident that Theresa May’s first visit as Prime Minister outside of Europe was to India, a clear statement of our commitment to and belief in India as an equal partner. Our future stability and prosperity are mutually reinforcing. The UK is the largest G20 investor in India, investing more than the US and Japan together, while India invests more into the UK than it does the rest of Europe combined. Two weeks ago, I was with both our Prime Ministers at the TECH Summit, an event that showcased the best of Indian and UK innovation in a variety of key sectors including healthcare and life sciences, automotive, energy, water and smart cities. Innovation and entrepreneurship sat at the heart of the Summit, including in a two day hackathon. As Narendra Modi said ‘Science, technology and innovation have a significant role in India’s bilateral engagement with the UK’.

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.

Families and ordinary working people will welcome the rise in the National Living Wage and changes to Universal Credit to ensure people keep more of what they earn. Together with a further freeze in fuel duty saving motorists on average £10 every time they fill up their car, today’s measures will provide greater financial security and help Northern Ireland prosper and grow.

The section of the Autumn Statement relating to the National Infrastructure Commission can be found here. It is reproduced in full below.