The chancellor says the cash will go towards overtime costs and specialist units dedicated to combating serious violence.
Particular focus has been given to the fact that officer numbers have fallen by almost 20,000 since 2010.
Home Secretary Sajid Javid unveiled a provisional settlement back in December that could see police funding increase by almost £1bn from April, including funds raised through council tax.Mr Hammond told the Commons on Wednesday that several police and crime commissioners have already pledged to use the additional cash to recruit and train new officers.
He added:"I am deeply concerned by the rising levels of knife crime that is devastating communities and robbing young people of their lives and futures.
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