Summary

  • Chancellor Philip Hammond has presented the 2017 Spring Budget

  • Budget provides "strong, stable platform for Brexit" Chancellor says

  • National insurance contributions will rise for the self-employed

  • £2bn extra for adult social care

  • Economic growth forecast raised for 2017 to 2%

  • Borrowing forecast cut to £51.7bn in 2016

  • Labour: Budget of 'utter complacency'

  • Get in touch: bizlivepage@bbc.co.uk

  1. Corbyn: Reject segregation of grammar schoolspublished at 14:00 Greenwich Mean Time 8 March 2017

    Exam centreImage source, pa

    The Leader of the Opposition moves on to the subject of education.

    He argues that the money announced for new grammar schools "is a vanity project".

    He urges the Prime Minister to "cancel the gimmick and regret segregation".

    Instead, he says, the government should honour their manifesto pledge to protect per pupil funding. 

  2. Corbyn on housingpublished at 13:58 Greenwich Mean Time 8 March 2017

    On Housing, Jeremy Corbyn accuses the government of failing to tackle problems of supply

    Did they allow councils to borrow money to build social housing, he asks. No.

    Did they replace council housing sold under the right to buy policy? No, he says, "just 1 in 6 have been built".

    Did they return the "right to buy" proceeds to councils? No, he says adding that the proceeds could have built 1,200.

  3. Who will be hit by self-employed tax rise?published at 13:53 Greenwich Mean Time 8 March 2017

    BBC economics correspondent Andy Verity tweets:

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    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 BBC is not responsible for the content of external sites.
    End of twitter post
    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post 2

    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 BBC is not responsible for the content of external sites.
    End of twitter post 2
  4. What is the government doing for women?published at 13:53 Greenwich Mean Time 8 March 2017

    The Labour leader moves on to attack the government on its record on women.

    Waspi women, he says face a "crisis in retirement" whilst women facing discrimination at work can't afford to go to a tribunal.

    Waspi (Women against state pension inequality) women are those whose state pension will be delayed due to the rise in the retirement age. 

    He also tells MPs that hundreds of women are turned away from domestic violence shelters and that it will take 60 years to close the gender pay gap.

  5. Self-employed 'hit hardest'published at 13:49 Greenwich Mean Time 8 March 2017

    Self-employed workers were the "biggest losers" in the Budget, according to IPSE, which represents independent professionals.

    The Chancellor announced that National Insurance contributions from the self-employed would rise next year.

    "If you are one of the hardworking self-employed people who face a significant increase on your tax bill, you might feel that the Chancellor has it in for you," says Chris Bryce, IPSE chief executive.

    "It’s entirely right for the Chancellor to look at taxation of the self-employed, but changes should only come after a thorough consultation with the business community, which has not taken place.”

  6. Postpublished at 13:49 Greenwich Mean Time 8 March 2017

  7. Business investment downgradedpublished at 13:49 Greenwich Mean Time 8 March 2017

    Iain Wright, chair of the Business, Energy and Industrial Strategy Select Committee and Labour MP, tweets:   

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    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 BBC is not responsible for the content of external sites.
    End of twitter post
  8. Why no zero hours contract ban asks Labour Leaderpublished at 13:45 Greenwich Mean Time 8 March 2017

    There is a "crisis in job security" (Tory MPs heckle) says Mr Corbyn "many people don't know if they will be working day to day".

    Deputy Speaker Lindsay Hoyle reprimands Conservative MPs for the noise levels. He suggests that one of the whips can "go get a cup of tea if he wants to be funny".

    "There is nothing funny about workers being on zero hours contract" says the Leader of the Oppostion.

    He criticises the Chancellor for failing to ban such contracts.

  9. Postpublished at 13:44 Greenwich Mean Time 8 March 2017

  10. Corbyn: For the few, not the manypublished at 13:43 Greenwich Mean Time 8 March 2017

    Labour leader, Jeremy Corbyn

    Jeremy Corbyn accuses the government of "cutting living standards for the many and raising taxes for the few".

    He calculates that there will be a £70bn tax giveaway for "those who need it the least".

    As an example he says that instead of using £10m to set up a children's funeral fund the government is cutting support for bereaved  families. 

  11. Postpublished at 13:41 Greenwich Mean Time 8 March 2017

  12. Chancellor's help for North Sea oil and gaspublished at 13:39 Greenwich Mean Time 8 March 2017

    Philip Hammond says the UK government will help North Sea oil and gas producers deal with late-life assets.

    Read More
  13. Productivity Problempublished at 13:39 Greenwich Mean Time 8 March 2017

    Matt Whittaker chief economist at the Resolution Foundation says successive Chancellors have forecast a return to productivity growth and all have been disappointed thus far. 

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    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 BBC is not responsible for the content of external sites.
    End of twitter post
  14. Utter complacencypublished at 13:36 Greenwich Mean Time 8 March 2017

    "Utter complacency" begins Jeremy Corbyn.

    He accuses the Chancellor of not understanding the problems of the public telling MPs that people don't know if their next pay packet will be enough and that homelessness is on the increase.

    "And the Chancellor made his boast about a strong economy." It is simply not working he says.

  15. Chancellor commends and concludespublished at 13:35 Greenwich Mean Time 8 March 2017

    Concluding his speech the Chancellor lauds his budget: 

    "Today, we reaffirm our commitment to invest in Britain’s future; And we embark on this next chapter of our history, confident in our strengths, and clear in our determination, to build a stronger, fairer, better Britain. I commend this Budget to the House."  

  16. How quickly they forgetpublished at 13:35 Greenwich Mean Time 8 March 2017

    The Chancellor has announced that the Government will raise the national insurance (NI) rate for the self-employed. 

    But wasn't this the same party which, in its election manifesto of just two years ago, said it would not increase NI?

    Behold the evidence...

    Conservative manifestoImage source, Conservative Party
    Conservative manifestoImage source, Conservative Party
  17. More GPs in A&Epublished at 13:35 Greenwich Mean Time 8 March 2017

    NHS signImage source, Getty Images

    The Chancellor announces £100m to help with accident and emergency waiting times.

    The money will be spent on English hospitals in time for next winter, Philip Hammond says. 

    It will focus on triage - deciding which patients to treat first - and will include GPs working in A&E departments to help with that workload.

  18. 'We are the party of the NHS'published at 13:30 Greenwich Mean Time 8 March 2017

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    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 BBC is not responsible for the content of external sites.
    End of twitter post
  19. Budget: Pub rates discount 'rise not cut'published at 13:29 Greenwich Mean Time 8 March 2017

    Dave Wade
    BBC Local Live

    Shadow pubs minister (yes, a real thing) Toby Perkins has also been reacting to the news that the Chancellor is giving 90% of local pubs a £1,000 discount on their business rates bill.

    This Twitter post cannot be displayed in your browser. Please enable Javascript or try a different browser.View original content on Twitter
    The BBC is not responsible for the content of external sites.
    Skip twitter post

    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 BBC is not responsible for the content of external sites.
    End of twitter post