Sajid Javid promises to raise national living wage and bring down its age threshold
Video report by ITV News Political Correspondent Romilly Weeks
Chancellor Sajid Javid has announced a plan to bring the living wage up to £10.50 an hour.
Mr Javid says the planned increase will give "four million people a well-earned pay rise" when the national living wage goes up from £8.21.
He also promised "reward the hard work of millenials," by bringing the age threshold for the national living wage down from 25 to 21.
He said: "I am setting a new target for the National Living Wage: raising it to match two-thirds of median earnings.
"That means, on current forecasts, this ambitious plan will bring the National Living Wage up to £10.50."
He also set out plans for an "infrastructure revolution", which will see new investment in roads, buses and broadband.
He says the first projects to be included in the promised road investment strategy, a £5 billion package to support the roll-out of broadband and a £220 million fund for buses.
In his speech to Conservative members at the Tory Party Conference, the Chancellor acknowledged that "successive governments failed to invest enough for the long term".
“We’ve started to put that right, but we can do more – a lot more.”
Ahead of his speech, Mr Javid said: “Investment in our infrastructure will be key to making the next decade one of renewal – boosting our economy and making life easier for people all across the country.
He went on: "That’s why I am announcing new investment in roads, bus services, and broadband today: the first step in our plans to deliver an infrastructure revolution.
"This new multibillion-pound investment to deliver gigabit-capable broadband for all the UK and investment in roads and buses will help people to get around and businesses to grow, ensuring no community is left behind.
"This will make the UK a better place to live and work, extending opportunity and raising living standards for all."
Funding for buses includes £50 million available to develop one or two all-electric bus towns or cities.
The Government will set a goal for contactless payments to be made available on every city bus will be able to team up with bus companies to create low-fare, high-frequency “superbus” networks, where local authorities will invest in bus lanes and in exchange the operator will run more services – Cornwall will pilot the first scheme next year.
Some £20 million will go on trials of “on demand” bus services and £30 million will improve existing services or replace routes that had been cut.
The broadband promise is for £5 billion to support the roll-out of full-fibre, 5G and other gigabit-capable networks to the hardest-to-reach 20% of the country.
In response to Sajid Javid's speech, CBI director-general Dame Carolyn Fairbairn said: "The Chancellor has put his money on a modern, connected, low carbon economy, which is exactly what business wanted to hear.
"But it feels like there was a page missing from his speech. It was silent on how the Government and the Treasury would respond to the serious rupture caused by failing to secure a deal with the EU - and the implications for the investments he announced today."
She also said the Low Pay Commission needed to retain the ability to judge the "pace and affordability" of rises in the national living wage.
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The first projects announced as part of the road investment strategy include:
Dualling of the A66 Trans-Pennine expressway and the A46 Newark bypass
Improvements to the M60 Simister Island interchange in Manchester
Starting construction on the A428 to improve journeys between Cambridge and Milton Keynes
Widening the A12
Committing at least £5 billion to maintain and renew England’s strategic roads between 2020 and 2025.
Watch Sajid Javid's speech in full: