THIS week the Autumn Statement gave the new Chancellor, Philip Hammond, the opportunity to set out his plans to provide a stable economic platform as the UK leaves the EU. Philip is famed for his calmness and mastery of detail and the statement proved no exception.

We heard first some measured but still optimistic forecasts for growth as we get through the Brexit uncertainty – yes, activity will slow according to the experts but Britain will still be among the fastest growing economies in the developed world.

Before a re-iteration of the vital importance of maintaining a prudent financial framework despite the bumps in the road, meaning that the accursed deficit (the gap between what the government takes in taxes each year and what it spends) will fall to 3.5 per cent of national income this year and to 0.7 per cent in 2020-21 – the lowest in two decades – and debt (which broadly speaking grows or shrinks every year depending on whether we run a surplus or a deficit) will begin falling in 2018-19 – the first fall since 2001-02.

The Chancellor then set out three areas of policy adjustments within this framework, of which the most exciting for me was the new commitment to very substantial investment in housing, transport and digital infrastructure and in our world-leading innovation and technology sectors.

This will underpin the Government’s industrial strategy and help to close the productivity gap and huge regional economic discrepancies in this country – no other country in the developed world has such a big productivity gap between its first and second cities.

There were big and welcome measures to support British businesses as they gear up for a post-Brexit world and some very welcome news for small local businesses like village shops or post offices in our area with a doubling of rural rate relief to 100 per cent.

Finally, the Statement had a whole raft of measures to help working families, such as confirmation that we will see the ongoing rise in the personal tax allowance to £12,000 by 2020 – a hugely important measure that has lifted four million people out of the tax net altogether and cut taxes for 28 million people; and a rise in the National Living wage introduced by this Conservative government to £7.50 an hour.

There was welcome news for tenants too with the abolition of letting agent fees; for motorists with another cut in fuel duty and for savers with a new bond to pay a decent return on savings.

It may have been calm, but it was a measured, sensible series of announcements that will keep this country moving forward.