Exactly five months on from the decision to leave the European Union, Philip Hammond, Chancellor of the Exchequer, delivered his first Autumn Statement. 

Mr Hammond confirmed that significant funds will be granted to improve road networks, develop digital infrastructure and support local transport networks and declared that "devolution remains at the heart of this Government's commitment to local growth."

Chancellor Hammond chose this Autumn Statement to prioritise additional high-value investment, specifically in infrastructure and innovation.

Highlights for the logistics and transport industry include:

• £390m for development of low emission vehicles and the development of connected autonomous vehicle
• £1.8bn from Local Growth Fund for English regions
• £1.1bn extra investment in English local transport networks
• £220m to reduce traffic pinch points
• £110m for East West Rail and commitment to deliver Oxford to Cambridge Expressway
• £1bn to improve and develop digital infrastructure
• Fuel duty will remain frozen for the seventh successive year
• £100 million investment in testing infrastructure for driverless cars
• £150 million to provide at least 550 new electric and hydrogen buses, reduce the emissions of 1,500 existing buses and support taxis to become zero emission
• £80 million to install more charging points for ultra-low emission vehicles
• £450 million will be spent on trialling railway digital signalling technology which will expand capacity and improve reliability
• The Department for Transport will continue to work with Transport for the North to develop detailed options for Northern Powerhouse Rail
• The go ahead to a programme of major roads schemes in the north

Commenting on today’s budget, Kevin Richardson, Chief Executive, CILT said: ‘I applaud the Government’s commitment to prioritising transport infrastructure projects to make Britain fit for the future. The importance of technology to develop a green, reliable and fit for purpose network across the country will only help contribute to raising Britain’s productivity.’