Mr Osborne said that the move, which equates to an extra £15bn of spending over the next decade, would ‘invest in the country’s economic arteries to get growth flowing to every part of it’.

David Brennan, managing director of LeasePlan, commented: ‘The Chancellor’s extra £3bn annual infrastructure spend will help deliver much-needed road improvements. Keeping Britain moving is vital to keep the economy growing.

‘However, starting this investment from 2015/16 does not help today’s drivers, who face congestion and delays, hamper business mobility and efficiency. We urge the Government to move quickly to deliver road upgrades around the country.’