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Environment Agency teams are continuing to work hard to reduce flood risk by putting up temporary barriers, operating flood gates and using pumps. Teams are out on the ground monitoring river levels, checking and maintaining flood defences and clearing blockages in watercourses.

The Prime Minister has been clear that during negotiations she wants to protect the status of EU nationals already living here, and the only circumstances in which that wouldn’t be possible is if UK citizens’ rights in European member states were not protected in return.

And the key judgement we make today is that our hard-won credibility on public spending means we can fund this commitment, in the short-term, from additional borrowing.

To kickstart this new approach, I will allow up to £1bn of the savings found by the efficiency review in 19/20 to be reinvested in priority areas and I have budgeted today accordingly.

Businesses, economy and tax experts like the International Monetary Fund, Institute for Government, the CBI, Chartered Institute of Taxation and the IFS have all been calling for this change. It will mean businesses and people face less frequent changes to the tax system, helping to promote certainty and stability.