The RHA welcomed the announcement and RHA chief executive Richard Burnett said: “The roads are the transport operator's place of work. Congestion costs the haulage industry and the wider economy billions of pounds each year. The news that the Treasury is determined to cut congestion comes as welcome news indeed.”

Key points for transport include:

• £1.1bn extra investment in English local transport networks.
• £220m to reduce traffic pinch points.
• £110m for East West Rail and commitment to deliver Oxford to Cambridge Expressway.

Hammond also cancelled the proposed fuel duty rise for the seventh successive year.

In terms of the overall economy the OBR predicts debt will rise from 84.2% of GDP last year to 87.3% this year, peaking at 90.2% in 2017-18.

Government borrowing will be £122bn bigger than planned, largely to balance the impact of Brexit.

The Chancellor also abolished the autumn statement.

No other major economy makes hundreds of changes every year, he said.

“Next year’s spring budget will be the final spring budget. After that there will be an autumn budget, well before the new financial year starts.”

FTA Deputy Chief Executive James Hookham said: “Naturally we are pleased with the Chancellor’s decision not to increase fuel duty in line with inflation as previously planned. The freeze will save truck operators – the majority of which are small and medium businesses – about £9,000 a year for a typical ten-vehicle fleet.

“The Chancellor has understood the arguments made by the FairFuelUK campaign and fuel duty has moved from being a ‘sin tax’ like alcohol and tobacco duty to being recognised as a core burden on families and businesses who can be helped by freezing it. The Chancellor needs to continue that logic and recognise that reducing tax duty in future will bring even greater benefit to the economy.”

James Stamp, head of transport at KPMG UK, welcomed the new investment but said: "It is vital that investment in transport innovation tackles how and why people will travel in the future. Smart ticketing, autonomous vehicles, and smart infrastructure all individually promise incremental benefits, and investment in this area is therefore encouraging. But the exponential change that could be unleashed by combining these initiatives (along with better use of data for providing information and choice to passengers) together is the real prize. Translating the potential of Mobility-as-a-Service, enabled by digital technology, to reality will require collaboration between policy makers, private operators, and transport authorities. It must be a key aim for the Government.”