What time is Rachel Reeves speech today - as Chancellor expected to back Heathrow Airport expansion and Manchester United's Old Trafford renovation

The Chancellor will make her announcement this morning (Wednesday 29 January) at 10am and will say the UK has been "held back" and accepted "stagnation". Her speech is expected to include support for the controversial third runway at Heathrow - an issue which many Cabinet ministers and the Prime Minister have opposed in the past.

The west London hub wants to build a third runway to the north-west of the existing two, which it says would enable an additional 260,000 flights per year and "allow Britain as a sovereign nation to compete more effectively for trade". Its plans also include a new terminal building to the west of Terminal 5 and the eventual demolition of Terminal 3 to make way for a series of new satellite terminals and more public transport.

Environmental groups have campaigned against the expansion since the plans were drawn up. Last week, Jenny Bates, transport campaigner at Friends of the Earth, called the proposal for another runway at Heathrow "hugely irresponsible in the midst of a climate emergency".

New reservoirs and a new train station with fast links to London are also among the measures set to be announced by the Chancellor, alongside her expected backing for the expansion of London airports. She will claim a "Oxford-Cambridge growth corridor" has "the potential to be Europe's Silicon Valley" and offer "huge economic potential for our nation's growth prospects".

Ms Reeves is expected to announce that the planned Tempsford station in Bedfordshire will be accelerated by 3 to 5 years, with the new East Coast Mainline station linking services to London in under an hour. She will also confirm funding for better transport links in the region, including for East-West Rail, with new services between Oxford and Milton Keynes this year as well as upgrades to the A428 to reduce journey times between Milton Keynes and Cambridge.

Billions of pounds of investment agreed with water companies will be used to upgrade infrastructure, including building nine new reservoirs. Ms Reeves will say the Environment Agency has also lifted its objections to a development for around 4,500 new homes in Cambridgeshire. A new Cambridge Cancer Research Hospital will be prioritised as part of the Government's new hospitals programme.

Rachel Reeves is also set to confirm that the government will back the redevelopment of Manchester United's Old Trafford stadium and its surrounding area, alongside plans to change the way projects are appraised and evaluated, in order to "support decisions on public investment across the country, including outside London and the southeast". Manchester United chief executive Omar Berrada says creating a "landmark project around Old Trafford" is a "once-in-a-lifetime opportunity".