Chancellor unveils £9bn boost for London transport

We’re committing to the largest investment in our railways since the Victorian age, and with the legislation before this House today, we should give the green light to HS2 – a huge boost to the north of England and a transformation of the economic geography of this country.

Here in London we’re digging Crossrail, the largest urban infrastructure project in Europe. But we will do more – looking at the case for Crossrail 2 linking London from North to South.

And we’re going to give the Mayor almost £9 billion of capital spending and additional financing power to the end of this decade.

– Chancellor George Osborne

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Osborne curbs welfare benefits

The newly unemployed will have to wait at least seven days before they are able to sign on, under a series of changes to welfare benefits announced by the Chancellor. A new welfare cap will be set from 2015 and OAP expats face losing fuel payments.