Good morning. Rachel Reeves delivered her big speech on growth. It contained a number of measures: some good (the Oxford/Cambridge arc tops that list), some bad (the third runway at Heathrow) and some added to give the list of growth initiatives the appearance of a more even regional distribution (the regeneration of Old Trafford).

After six months of talking down the economy and warning of tough times ahead, the UK chancellor Rachel Reeves has changed her tune. She is now much more optimistic about Britain’s economic prospects and has announced a raft of measures including major pension reforms designed to unlock cash to boost growth and productivity.

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.