Speaking at Bloomberg’s European headquarters in London, the Chancellor set out his long-term vision for how the government planned to achieve growth across multiple sectors in the UK.

This was Hunt’s first big economic speech since he took office in October, where he addressed a long-term plan to tackle poor productivity, as well as calling for greater investment in education and technology.

He also dismissed economic ‘gloom’ as he promised to use ‘Brexit freedoms’ to increase growth and productivity in the UK.

In his Autumn Statement last November, Hunt revealed tax rises and spending cuts worth billions of pounds aimed at addressing the nation’s finances, as it continued to face the cost of living crisis.