Superhighway and rail link to be approved in Chancellor’s Autumn statement

Mr Hammond is set to announce that the Government is investing £400m into a new Digital Infrastructure Investment Fund.

His successor, Philip Hammond, will on Wednesday announce the autumn budget which will be his first set-piece since replacing Mr Osborne.

They’re defined as families with a net income of between £12,000 and £34,000.

The IMF said the “quantum” of policy announcements that have been part of Autumn statements over the last six years had eclipsed the impact of fellow Budget statements by some margin “particularly on the tax side”.

Claire Carey, partner at law firm Sackers, said: “Salary sacrifice has always been under HMRC’s spotlight, with valuable NI savings enjoyed by those who enter into such arrangements”.

He added: “Furthermore, we need to see adequate investment in our region”.

NEWS that more Government cash could be pumped into the road network has been cautiously welcomed in Bradford.

But Ministers are in talks with local business and council leaders about what more they can do.

“We trade huge amounts together, and I’m confident that we will be able to agree an arrangement with our European partners that ensures that our companies will continue to trade in and have access to European market places”, Mr. Hammond said.

The move is one of several initiatives expected in the Autumn Statement to create jobs and provide an economic stimulus by investing in infrastructure.

May is expected to speak on Monday about plans her ministers are drawing up for a new industrial strategy. The finance minister is likely to press ahead with plans to cut the rate of corporate tax to 17 percent in the coming years from 20 percent at the moment, after ditching his predecessor’s plans for a cut to just 15 percent. However, US President-elect Donald Trump has spoken about cutting the equivalent US federal tax from 35% to 15%, raising the possibility of further cuts in the UK.

He said Labour wanted a 500 billion-pound boost to investment over a decade, half of it public money and the rest from the private sector, to speed up Britain’s economic growth and reduce the need for cuts in welfare spending.

The fall in the value of the pound since the Brexit vote has pushed up inflation expectations, with the Bank of England predicting consumer price inflation will hit 3% by early 2018.

But departmental spending, pension payouts and debt interest has kept borrowing high, leaving the deficit for the seven months of the financial year so far at £48.6 billion.

A spokesman for the Treasury said: “As the Chancellor has made clear, the Government is committed to fiscal discipline and will return the budget to balance over a sensible period of time, in a way that allows space to support the economy as needed”.