At the spending review last week, the Chancellor Rishi Sunak announced that there would be a new National Infrastructure Bank launched.

Details were sketchy but we know it will work with the private sector to fund new infrastructure projects across the UK and to help the UK reach the net zero carbon targets by 2050.

We are told it will be located in the North, but we don’t know where, which has all the major cities and areas in the north scrabbling to make a pitch. We also don’t know yet how much money it will have to play with.