In choppy global seas, going for growth is going to require some tricky navigation - and it will make big domestic political waves too

Reeves praised Make UK, the manufacturers’ organisation, but reacting to the speech, chief executive Stephen Phipson warned that the government needed to resolve the contradiction between its growth-suppressing Budget and the ambitions set out by the chancellor.

British finance minister Rachel Reeves gave the government's backing to a long-delayed new runway at London's Heathrow Airport on Wednesday as the centrepiece of her plan to speed up the country's sluggish economy.