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At the outset let me welcome the analysis shared by the Secretary-General and all our briefers this morning. And I join others in paying tribute to you, Mr President, for your leadership in bringing this vital issue to the Council.

The government’s long-term investment decisions will be informed by the NIC to ensure they are targeted at the UK’s most critical infrastructure needs. To ensure the NIC’s recommendations are affordable, the government has set the NIC a fiscal remit. Government investment in the areas the NIC covers will rise to over 1% of GDP by 2020-21. The fiscal remit invites the NIC to set out recommendations on the assumption that spending on infrastructure will lie between 1% and 1.2% of GDP each year from 2020 to 2050. This would mark a sustained, long-term increase in infrastructure investment. The government will take all final spending decisions.

He confirmed that the UK will send 800 personnel to Estonia as one of four framework battalions to NATO’s Enhanced Forward Presence, to which France and Denmark will contribute further troops.

Today (23 November 2016) at Autumn Statement, the Chancellor set out announcements which will build an economy that works for everyone, in Wales and the whole of the UK.

Devolution remains at the heart of this government’s approach to supporting local growth, and we recommit today to our City deals with Swansea, Edinburgh, North Wales and Tay Cities – and I can announce today we’re beginning negotiations on a city deal for Stirling.