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But growth remains positive and employment continues to rise in each of the next 5 years, with half a million more people forecast to be in work by 2021.

It is a piece of legislation which will stop the European Communities Act 1972 from applying in the UK on the day we leave the EU. This ‘Great Repeal Bill’ will end the authority of EU law and return power to the UK.

Our joint futures are underpinned by our research and development partnership. The UK India research relationship has never been so strong, rising from £1 million in 2009 to over £200 million today, and is growing exponentially. UK and Indian universities are doing more research together than they have ever done before with partner Institutions. New catapult centres and Knowledge transfer networks are bringing together top universities and private sector Institutions to achieve high-value real-world innovation. At the heart of that sits the Newton Bhabha Fund which brings together the UK and Indian scientific research and innovation sectors to find joint solutions to global challenges. The Newton Bhabha Fund is worth £10 million this year and will expand up to £104 million by 2021.

They will also mean that businesses cannot avoid tax by borrowing excessively in the UK to fund their overseas activities.

The Personal Allowance is the amount of income you can earn before you start paying income tax. It is currently £11,000 this year, and will rise to £11,500 in 2017-18. The point at which you pay the higher rate of income tax will increase from £43,000 this year, to £45,000 in 2017-18.