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OBR chief executive Robert Chote is asked by the BBC when the UK will balance its books.  

Not an easy question it seems. The UK will still be in deficit in 2020, Mr Chote says.

Beyond that it's difficult to forecast because the UK will have an election that year, and so potentially a new government. 

The Office for Budget Responsibility prepares the economic forecasts which the Chancellor bases the budget on. On the day of the budget it releases details about those forecasts in its economic and fiscal outlook (EFO). See link below.

BBC political correspondent Vicky Young says the "massive talking point" in the post-Budget briefing by the Treasury was the rise in tax bills for the self-employed.

The Conservatives went into the last election with a manifesto pledge not to put up National Insurance, she says. However, the Chancellor is raising National Insurance bills for self-employed workers from 9% to 11% by 2019. 

Tory MPs, including John Redwood and Anna Soubry, are already saying they're unsure about the tax rise, Vicky says. 

In response, the Treasury says the tax lock bill - which came after the 2015 election - specified the pledge didn't cover self-employed workers.

The Treasury also pointed out a lot of higher-paid people, including QCs and GPs, are self-employed.

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It's not only what the Chancellor did that's under fire in some quarters, it's what he didn't do.

For example, small and medium sized firms feel Mr Hammond should have taken more steps to boost exports.

BBC economics editor Kamal Ahmed on the three of the main points in Philip Hammond's Budget speech.

BBC Radio 5 live

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Liberal Democrat leader Tim Farron has criticised plans to raise the rate paid by self-employed workers.

"One-in-four folks who are workers in my constituency are self-employed. They don't have holiday pay and now they can't afford a holiday anyway."

BBC Radio 5 live's Sarah Brett responded that this would only affect workers earning over £16,000. 

Farron replied: "Absolutely, but loads of people who are self-employed earn not much more than that and some of the poorest people I know own and run their own businesses."

"We take this as a retrograde step."

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The hospitality industry is less than happy that the Chancellor has raised duty on beer and wine by 3.9% - the first increase since 2012.

The industry "continues to experience significant price pressures and this Budget has not helped", says Paul Connelly, managing director of purchasing company Beacon. 

He points to inflationary pressures including the National Living Wage, revised business rates and food inflation, which doubled in February. 

The duty hike "might be the final straw for many hospitality businesses who had been holding off passing price increases onto the consumer," he says.

An at-a-glance summary of the key points of Philip Hammond's Spring 2017 Budget.

The Chancellor is living in a parallel universe says the SNP's Treasury spokesman Roger Mullin.

He notes there was no mention of Brexit and "nothing to tackle austerity".

On every major issue he failed to comment, he says.

Huw Edwards asks if a future case for independence will depend on oil revenues "which have dipped so significantly". 

Roger Mullin replies that the future case will depend on the entire Scottish economy.

More reaction to the Chancellor's Budget shift on business rates. 

Jane Antoniades runs a florist and gift shop in Whitstable in Kent. She says:"Personally I feel huge relief but the bigger picture is that rates are still a problem for the High Street. 

"There are four other places nearby who are not getting this relief and so are still getting hit by massive increases. If they close that affects the High Street as a whole and me as well.

"I was due to pay a 353% increase over the next five years. That has now been capped at £500 a year so that will be an increase of just under 40%, she adds.

The best thing about the Budget is its dullness says Ukip's Douglas Carswell.

However he regrets that it does not tackle public debt and "attacks" the self-employed.

Lib Dem leader Tim Farron agrees that changes to national insurance contributions will be "a huge blow" to the self-employed in his constituency.

He also argues that the country cannot have "a well funded public service with a Hard Brexit".

House of Commons
Parliament

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Labour MP Rachel Reeves says the forecast outlined in the Budget is dependent on consumers continuing to spend, and racking up debts.

She says she is concerned about the ability of consumers to bear the burden; real wages growth has contracted sharply, she says.

"It's not an economy well placed to withstand the strains and shocks that lie ahead.

"This dangerous reliance on borrowing and debt is connected to the government's failure to put wealth and opportunity in the hands of the many rather than the few."

BBC Business Editor Simon Jack calculates that the cut in the dividend allowance and class 4 increases in national insurance creates "a £2bn tax on self employed".

What sort of message is that, he asks.

This government is very supportive of small businesses replies David Gauke.

He argues that cuts in corporation tax, changes to capital gains tax are all "very helpful to small businesses".