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The OBR’s forecast of higher borrowing and slower asset sales, together with the temporary effect of the Bank of England’s action to stimulate growth, translates into an increased forecast for debt in the near-term.

NIC study on Cambridge-Milton Keynes-Oxford corridor – The government welcomes the NIC’s interim report into the Cambridge-Milton Keynes-Oxford growth corridor, accepts the recommendation for an Oxford-Cambridge expressway,14 and will provide £27 million in development funding. The government will also bring forward £100 million to accelerate construction of the East-West Rail line western section and allocate £10 million in development funding for the central rail section. The government welcomes the NIC’s work looking at a range of delivery models for housing and transport in the corridor, including development corporations, and will carefully consider its final recommendations. Following a successful public call for ideas, the government has also asked the NIC to undertake a new study on how emerging technologies can improve infrastructure productivity.

And that we are devolving to London the adult education budget, and giving London greater control over the delivery of employment support services for the hardest to help.

These measures – and others set out in the Autumn Statement document – raise around £2 billion over the forecast period.

The weather will continue to improve this week, but people should avoid walking near swollen rivers and should not risk driving or walking through flood water. Strong winds and large waves will also ease around the coast today, but people should take care when walking by the sea. Information about flood warnings and alerts is updated every 15 minutes on GOV.UK and people can check their postcodes and sign up to receive free flood warnings.