“Everyone in this room knows these are unpredictable times,” he said, “so it’s nice to be able to get back to the hard certainties of concrete and steel.
“I passionately wanted Britain to remain part of the European Union, but the people of the UK delivered their verdict... Now the entire government and I will work to deliver their instruction.”
Conceding that the country now faces “a period of adjustment, economic, social and political”, he insisted that the country remains strong, not least because of the austerity plan of the last six years.
That, he said, means continued investment in the transport infrastructure, as outlined earlier this year.
“The first ever road investment strategy will shortly be backed up by a second, delivering the largest spend on our roads for a generation,” he stated.
Altogether, transport spending will rise by 50% in this parliament – because those who control the budgets know exactly how vital this programme is.
“As we address the future and the consequences of our vote to leave the EU, one thing is certain: investment in the long term infrastructure we need, has become more important, not less.
“As we make decisions about our future in the coming weeks and months, it is vital that the UK is seen to be open for business and building the infrastructure it needs to compete.”