OBR downgrades UK growth forecasts
Sugar tax on soft drinks to be introduced
Fuel and beer duties frozen
New rail lines including Crossrail 2 and HS3 get green light
US Federal Reserve holds interest rates
Mr Osborne warns that storm clouds are gathering over the global economy, which is why he chooses “sound public finances to deliver security” amid the uncertainty. The outlook is "materially weaker", he says, citing the Office for Budget Responsibility.
George Osborne announces a tax on sugary soft drinks, downgrades growth forecasts and warns of the risks of leaving the EU in his Budget.
Read MoreGeorge Osborne kicks off with upbeat comments about the UK economy: strong, growing and resilient "because we did not seek short-term fixes".
BBC business correspondent tweets...
Allow Twitter content?
This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.
And we're off... George Osborne rises to begin his eighth Budget. Including autumn statements and spending reviews, it's his 16th major economic statement to the House of Commons since 2010.
According to the Press Association, Mr Osborne has spent six hours and 41 minutes of his life (so far) delivering Budget speeches.
ITV political editor tweets...
Allow Twitter content?
This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.
The Sun's Westminster correspondent tweets
Allow Twitter content?
This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.
Responding to reports that the government aims to make every school in England an academy, Russell Hobby, general secretary of the National Association of Head Teachers said: "We have no problem with academies - we just don't believe they are a panacea.
"We hope that local authorities will reinvent themselves to offer services that schools can buy into. It would make sense to us to allow some local authorities to establish academy chains."
He also raised concerns about small schools that rely on external support, saying they are neglected in most strategies.
"Who will step in to support them?"
PMQs
House of Commons
Parliament
Labour Leader Jeremy Corbyn asks about air pollution, which he says costs the economy £20bn per year.
David Cameron replies that the government is de-carbonising the energy industry, investing in nuclear power and regulating diesel engines.
Mr Corbyn asks why the government has offered local authorities are allowed to veto wind turbines but not fracking sites.
The prime minister says "we have a proper planning system for these things"
Email to haveyoursay@bbc.co.uk
Today is the day we see how much worse things will be for small businesses such as ours. I would like to see a reduction in the heavy taxation, a cut in small employers National Insurance contributions, a cut in corporation tax for us, and a cut in VAT. Any profits we manage to make are grabbed by the Chancellor - the rates are far too high for small businesses.
Maggie, Aberdeen
Andrew Havis tweets...
Business editor Simon Jack tweets:
Allow Twitter content?
This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.
PMQs
House of Commons
Parliament
David Cameron is facing his weekly grilling from MPs.
The House cheers as David Cameron stands up to give an update on the employment figures, which he says are at a record high.
The Times Red Box editor tweets:
Allow Twitter content?
This article contains content provided by Twitter. We ask for your permission before anything is loaded, as they may be using cookies and other technologies. You may want to read Twitter’s cookie policy, external and privacy policy, external before accepting. To view this content choose ‘accept and continue’.
Chancellor to warn of gathering clouds around the UK economy
There are two big issues to watch out for in George Osborne's Budget speech, says BBC economics editor Kamal Ahmed.
Quote MessageOne of those is around the government's finances... how much is the government spending and how much is it borrowing? And secondly, the health of the UK economy ... there have been some headwinds for that over that two to three months."
We know the Chancellor is fond of these, but where will it come this time? Could he announce a further raise to the personal allowance, to £15,000 by the end of this parliament? Could appease those groups calling the manifesto pledge to raise the 40% threshold a tax break for the middle class.
Chas Roy-Chowdhury, Association of Chartered Certified Accountants head of taxation
Whatever happens today - and it's a decent bet there'll be one or two surprises - there's one thing we know will not be making an appearance this year: Danny Alexander's yellow briefcase.
The Liberal Democrat, who was then Chief Secretary to the Treasury, took the unprecedented step of presenting an alternative fiscal plan the day after last March's Budget. Mr Alexander lost his seat in the general election last May.
The Chancellor has frozen fuel duty since his first budget in 2010, but he may be about to change tack.
He could seek to capitalise on the low oil prices with an increase in duty, but many Conservative MPs would oppose such a move.
Image source, Getty ImagesThe Governor of the Bank of England Mark Carney is 51 today.
Will there be cake and champagne before or after the budget at the Bank?