In June 2016, Crabb announced that he would be standing in the Conservative party leadership election, following David Cameron's resignation over the outcome of the EU referendum [REF].
Crabb promised to create a £100 billion "Growing Britain Fund", which he would use for flood defences, fibre optic broadband and Crossrail 2. He hoped to finance this through new government bonds, because "the cost of borrowing is incredibly low.