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| At a glance: What was in Rachel Reeves's 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 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 by the end of the summer, but promised the government would only sign them off if they were "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 local authorities to reopen the Doncaster Sheffield 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, resulting in £1bn of investment and 2,000 jobs, Reeves said. | |
| 'Silicon Valley' | 'Silicon Valley' |
| Reeves vowed to build "Europe's Silicon Valley" between Oxford and Cambridge, with policies aimed at boosting the region's growth, saying they would 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. | |
| 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 to the government and now a Labour minister, will be in charge of overseeing the project. | |
| New reservoirs | New reservoirs |
| The government will approve £7.9bn in investment for water companies 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 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. |
| Around the UK | |
| Most of the announcements were focused on England, where the government has greater controls over planning and infrastructure. | |
| But Reeves said the government was "working with the devolved governments to ensure the benefits of growth can be felt across Scotland, Wales and Northern Ireland". | |
| Reeves said government backing for the Wrexham and Flintshire Investment Zone in Wales, announced last year, would attract £1bn to the area. | |
| Backed by the likes of Airbus and JCB, Reeves said the investment would create up to 6,000 jobs. | |
| Glasgow will be one of the first city regions to benefit from "provide deeper more focused" investment from the National Wealth Fund. |