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Chancellor "recommits" to Swansea and north Wales deals

Chancellor Phillip Hammond has said that he is "recommitting" to the support for Swansea and north Wales city deals announced by his predecessor, George Osborne. The aim is to encourage fresh business investment in the chosen areas.

A very positive outcome, to have the Chancellor’s public confirmation on commitment for a North Wales Growth Deal.

With the extra £400m announced by the Chancellor for Wales, we hope to see a fair proportion of that, supporting the economy of North Wales, for example on key investments as outlined in the Growth Vision for North Wales, especially on infrastructure and the Growth Track 360 rail investment campaign.

– Ashley Rogers, North Wales Business Council

Wales gets £400 million from infrastructure plans

Chancellor Phillip Hammond is delivering his autumn statement to MPs Credit: Parliament TV

Chancellor Phillip Hammond says Wales will get £400 million as a consequence of the spending on roads and other infrastructure that he's announced for England.

The Chancellor said high value infrastructure investment will improve Britain's productivity and so he could justify the "short term borrowing" to pay for it.

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Borrowing to fall but surplus to remain beyond 2020

Chancellor Philip Hammond announced new borrowing figures.

Chancellor Philip Hammond has announced rising Government borrowing figures as he confirmed it no longer plans to deliver a surplus in public finances by 2020.

He said Government borrowing will fall from £68.2bn this year to £21.9bn in 2019-20, followed by £20.7bn and £17.2bn in 2021-22.

ITV Economics Editor Noreena Hertz tweeted:

The new figures show a widening gap between the planned forecasts delivered by his predecessor George Osborne back in March.

£55.5bn
March forecast of Government borrowing in 2016.
£68.2bn
New forecast of Government borrowing in 2016.
£38.8bn
March forecast of Government borrowing in 2017.
£59bn
New forecast of Government borrowing in 2017.
  1. National

Chancellor prepares for 'new chapter' in Britain's history

Chancellor Philip Hammond has left Downing Street to deliver his first Autumn Statement.

Chancellor Philip Hammond has said his first Autumn Statement "is focused on preparing and supporting the economy as we begin writing a new chapter in our country's history".

He sent out a tweet shortly before leaving 11 Downing Street to head to the House of Commons.

Mr Hammond will deliver the Statement after Prime Minister's Questions.

  • Watch the Autumn Statement live on our Facebook page from 12.30pm.

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Pembroke 'most desirable' place in Wales

Credit: David Jones/PA

Pembroke is among the most desirable places to live in Britain.

Website Rightmove surveyed nearly 24,000 people by to discover where they would most like to live in Britain.

With the average asking price for a home at £169,969, Pembroke is the least expensive place to live on the list of the most desirable areas.

The Isle of Skye topped the list.

Call to abolish Severn tolls

Credit: Ben Birchall/PA Wire

A Senedd debate will today hear a call for the Severn tolls to be abolished once the bridges return to public ownership.

The move is broadly supported by all parties.

George Osborne announced at the Budget this year that charges for vehicles will be halved from 2018 when the two bridges return to public ownership.

Motorists travelling from England into Wales currently pay £6.60 for cars and £13.20 for vans.

VAT on the charges will be scrapped when the bridges return to public ownership.

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