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| At a glance: What was in Rachel Reeves speech? | |
| (32 minutes later) | |
| Rachel Reeves has set out a series of major announcements on infrastructure projects, including backing plans for a third runway at Heathrow Airport. | Rachel Reeves has set out a series of major announcements on infrastructure projects, including backing plans for a third runway at Heathrow Airport. |
| She promised to go "further and faster" than previous governments after years of sluggish growth in the UK. | She promised to go "further and faster" than previous governments after years of sluggish growth in the UK. |
| So what did she announce? | So what did she announce? |
| Heathrow expansion | Heathrow expansion |
| Reeves confirmed the government is officially backing plans to build a third runway at Heathrow Airport, arguing it could create 100,000 jobs. | Reeves confirmed the government is officially backing plans to build a third runway at Heathrow Airport, arguing it could create 100,000 jobs. |
| The plans received parliamentary approval in June 2018, but have been stuck in limbo after legal challenges ever since. | The plans received parliamentary approval in June 2018, but have been stuck in limbo after legal challenges ever since. |
| She invited Heathrow to submit plans to expand the airport, but promised the government would only sign them off if "in line with legal environmental and climate objectives". | She invited Heathrow to submit plans to expand the airport, but promised the government would only sign them off if "in line with legal environmental and climate objectives". |
| The government has already backed the expansion of City Airport and Stanstead Airport around London. | The government has already backed the expansion of City Airport and Stanstead Airport around London. |
| A decision to expand Luton Airport and build an emergency runway at Gatwick Airport will be delivered soon, she promised. | A decision to expand Luton Airport and build an emergency runway at Gatwick Airport will be delivered soon, she promised. |
| The government will work with Doncaster Council and the Mayor of South Yorkshire to revive the closed airport, aiming to turn it into a thriving regional hub. | The government will work with Doncaster Council and the Mayor of South Yorkshire to revive the closed airport, aiming to turn it into a thriving regional hub. |
| There will also be a new partnership between Prologis and Manchester Airport Group will build a new advanced manufacturing and logistics park, unlocking £1bn of investment and 2,000 jobs. | There will also be a new partnership between Prologis and Manchester Airport Group will build a new advanced manufacturing and logistics park, unlocking £1bn of investment and 2,000 jobs. |
| 'Silicon Valley' | 'Silicon Valley' |
| Reeves vowed to build "Europe's Silicon Valley" between Oxford and Cambridge, unveiling policies to boost the region's growth and add £78bn to the UK economy in the next 10 years. | Reeves vowed to build "Europe's Silicon Valley" between Oxford and Cambridge, unveiling policies to boost the region's growth and add £78bn to the UK economy in the next 10 years. |
| Funding has been confirmed for transport projects, including the East West Rail, and an upgrade on the A428 between Milton Keynes and Cambridge. | Funding has been confirmed for transport projects, including the East West Rail, and an upgrade on the A428 between Milton Keynes and Cambridge. |
| The University of Cambridge will open an innovation hub in the city centre, which will be built alongside 4,500 new homes, and schools after the Environment Agency dropped its opposition. | The University of Cambridge will open an innovation hub in the city centre, which will be built alongside 4,500 new homes, and schools after the Environment Agency dropped its opposition. |
| A new Cambridge Cancer Research Hospital will also be prioritised. | A new Cambridge Cancer Research Hospital will also be prioritised. |
| Lord Patrick Vallance, the ex-chief scientific adviser advisor to the government and now a Labour minister, will be in charge of overseeing the project. | Lord Patrick Vallance, the ex-chief scientific adviser advisor to the government and now a Labour minister, will be in charge of overseeing the project. |
| New reservoirs | New reservoirs |
| The government will let water companies unlock £7.9bn in investment to build nine new reservoirs, including a new Fens Reservoir to serve Cambridge. | The government will let water companies unlock £7.9bn in investment to build nine new reservoirs, including a new Fens Reservoir to serve Cambridge. |
| There will also be a new Abingdon Reservoir near Oxford. | There will also be a new Abingdon Reservoir near Oxford. |
| Changing infrastructure rules | Changing infrastructure rules |
| Government guidance on building major projects will be reviewed in order to support investments outside of the wealthy and productive south-east of England, Reeves said. | Government guidance on building major projects will be reviewed in order to support investments outside of the wealthy and productive south-east of England, Reeves said. |
| "This means that investment in all regions is given a fair hearing by the Treasury that I lead," she said. | "This means that investment in all regions is given a fair hearing by the Treasury that I lead," she said. |
| This will work alongside other major changes set out in the government's upcoming Planning and Infrastructure Bill. | This will work alongside other major changes set out in the government's upcoming Planning and Infrastructure Bill. |
| Redevelopment of Old Trafford | Redevelopment of Old Trafford |
| One of the projects to benefit is plans to redevelop Manchester United's Old Trafford football stadium. | One of the projects to benefit is plans to redevelop Manchester United's Old Trafford football stadium. |
| Manchester United are set to make a decision by the end of the season on whether to redevelop the existing stadium into an 87,000-capacity venue or build a brand-new 100,000-capacity ground. | Manchester United are set to make a decision by the end of the season on whether to redevelop the existing stadium into an 87,000-capacity venue or build a brand-new 100,000-capacity ground. |
| The Old Trafford scheme will use public money to move three rail freight terminals blocking the redevelopment. | The Old Trafford scheme will use public money to move three rail freight terminals blocking the redevelopment. |
| Mayor of Greater Manchester Andy Burnham has promised the scheme will build 5,000 homes and create a second "major football campus" in the city. | Mayor of Greater Manchester Andy Burnham has promised the scheme will build 5,000 homes and create a second "major football campus" in the city. |
| Trade trips | Trade trips |
| Reeves announced the government will be hosting a range of trade trips. | Reeves announced the government will be hosting a range of trade trips. |
| Business Secretary Jonathan Reynolds is going to India next month for trade talk while the UK resets "the relationship" with the EU. | Business Secretary Jonathan Reynolds is going to India next month for trade talk while the UK resets "the relationship" with the EU. |
| Building on "our special relationship with the United States under President Trump" is in the national interest, Reeves said. | Building on "our special relationship with the United States under President Trump" is in the national interest, Reeves said. |
| National Wealth Fund investments | National Wealth Fund investments |
| The government will invest in two green energy projects through the National Wealth Fund set up under Labour. | The government will invest in two green energy projects through the National Wealth Fund set up under Labour. |
| Reeves said £65m will be given to electric vehicle charging company Connected Curb project to extend their network. | Reeves said £65m will be given to electric vehicle charging company Connected Curb project to extend their network. |
| Meanwhile £28m equity will be invested in Cornish Metals, which provide the raw material for solar panels, wind turbines and electric vehicles. | Meanwhile £28m equity will be invested in Cornish Metals, which provide the raw material for solar panels, wind turbines and electric vehicles. |
| Lower Thames Crossing | Lower Thames Crossing |
| Reeves mentioned the new Lower Thames Crossing, the UK's largest road tunnel, which will link Tilbury in Essex and Gravesend in Kent. | Reeves mentioned the new Lower Thames Crossing, the UK's largest road tunnel, which will link Tilbury in Essex and Gravesend in Kent. |
| The £9bn tunnel under the Thames river will be one of the most expensive infrastructure projects in British history. The government is exploring how to finance it privately. | The £9bn tunnel under the Thames river will be one of the most expensive infrastructure projects in British history. The government is exploring how to finance it privately. |