In one of the most consequential Budgets in recent history, and the first from a Labour chancellor in 14 years, Rachel Reeves stated “We will restore stability to our country again” as she pledged to stabilise the UK’s finances while also rebuilding public services.

While much of the focus of the wider media will be on the £40bn of tax rises, including a rise in National Insurance contributions for employers, Reeves also announced changes to fiscal rules to enable £100bn to be spent on capital projects over the next five years.

“Today’s budget marks an end to short-termism”, she said. Here is a summary of the key measures for the built environment.