Chancellor Rachel Reeves is set to unveil major reforms of the planning system today and set house building targets as construction is placed at the forefront of kick-starting economic growth.

New measures will also be unveiled to unblock infrastructure and private investment.

Reeves will make her first major speech to business leaders today as she vows to “fix the foundations of Britain’s economy.”

She is expected to say: “Our manifesto was clear: ‘Sustained economic growth is the only route to improving the prosperity of our country and the living standards of working people.’

“Where governments have been unwilling to take the difficult decisions to deliver growth – or have waited too long to act – I will deliver.

“It is now a national mission. There is no time to waste.

“This morning I want to outline the first steps this new government has taken to fix the foundations of our economy, so we can rebuild Britain and make every part of our country better off.

“We face the legacy of fourteen years of chaos and economic irresponsibility.

“It falls to this new Government to fix the foundations.”