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.

British finance minister Rachel Reeves spelled out her plans to revive the country's slow-moving economy on Wednesday, adding to recent pledges to reform investment and planning rules with a commitment to back airport expansion at Heathrow.

The OBR believes spending on these benefits will rise from £75bn this year to more than £100bn by the end of the decade. Reeves on Wednesday vowed to make tough decisions on welfare that others have “ducked for too long”, including the “rising cost of health and disability benefits”. A highly anticipated green paper on the issue is expected soon.