BBC personal finance reporter Simon Gompertz tweets:

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SNP Westminster leader Angus Robertson says the Brexit committee has recommended that the status of EU nationals should be guaranteed.

He says the committee points out the application process for UK residence is unfit for purpose; and he asks what plans are being taken to improve it.

Theresa May replies that UK nationals' status also needs to be guaranteed. She says the Home Office is looking at ways to simplify the process.

Mr Robertson says that due to Home Office cuts, it is estimated it would take 50 years to deal with all EU nationals' applications.

Theresa May says her old department - remember she was the Home Secretary - is getting more efficient and that most applications are dealt with online.

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The Labour leader also questions the prime minister on school places. Could the prime minister tell us how many new school places will be needed by 2020? he asks.

Theresa May does not answer the question the first time; but says at the second time of asking that she wants to increase the number of good school places. 

There is money for new free schools, grammar schools and faith schools, she says. 

"There will be a diversity," she says. "What I want is a choice."

Jeremy Corbyn accuses the prime minister of pursuing "vanity projects".

She says it is not a vanity project to provide good school places. She says free schools have been opened in areas of deprivation. 

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Labour leader Jeremy Corbyn says there is a social care crisis which affects every council.

Theresa May says the Budget may have some news for Mr Corbyn on social care funding for councils.

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Labour leader Jeremy Corbyn begins by questioning the prime minister about the leaked texts from the leader of Surrey County Council, David Hodge .

Could she explain the difference between a "sweetheart deal and gentleman's agreement" he asks.

Theresa May replies that there has not been a particular deal with Surrey County Council that is not available to other councils. "The answer is no," she says.

The pound is still struggling against the dollar and euro as we head towards the Budget.

Sterling is down 0.4% against both currencies - at $1.2146 and €1.1503.

The UK's main share index is unsettled as well. The FTSE 100 is down 20 points, or 0.3%, at 7,319.39 points. 

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It’s time for prime minister’s questions – the weekly session where Theresa May faces Labour leader Jeremy Corbyn, and also answers questions from backbench MPs.

The first question comes from Conservative MP Sheryll Murray.

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BBC News Channel

The UK is facing a storm in the form of Brexit, and it will dominate this Budget, says Chris Leslie, the Labour shadow secretary to the Treasury.

"There's a hurricane on the horizon", he tells the BBC. 

The government is actively heading towards that storm because of its decision not to salvage single market membership, he adds.

But former Conservative chancellor Norman Lamont, a Brexit supporter, says an economic storm isn't a foregone conclusion. 

The single market - for tariff-free access to the EU - is not "some Chinese garden with a wall around it that we need to have a key to access", Mr Lamont says. 

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Parliament

Image source, HoC

Here's the Chancellor - entering the Commons chamber with a sheaf of papers. He takes his place on the frontbench.

There's a cheer too as Theresa May enters, just ahead of Prime Minister's Questions.

Reuters political correspondent William James compares Hammond's box-holding skills to his predecessor...

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The day in the Commons has begun with Welsh questions. 

Welsh Secretary Alun Cairns and his ministers are answering questions from backbench MPs for half an hour. 

Prime Minister's Questions follows at noon...and then it's the Budget. PMQs has overrun in recent weeks, finishing at 12.40pm. 

Will John Bercow call a halt to backbench questions, to enable the Chancellor to start on time?

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

BBC News Channel

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The Chancellor of the day can always rely on so-called sin taxes - from cigarettes and alcohol - to help top up the coffers.

BBC personal finance expert Ruth Alexander says that with Philip Hammond looking for new sources of tax revenue, there's speculation he could introduce a new tax on e-cigarettes. Currently they're charged lower duties than for tobacco.

Experts also expect him to increase alcohol duty - potentially raising an extra £100m. 

Chris Johnston
Business reporter

Well it made me laugh... And yes, we know it's a spoof account.

And not to be outdone...

This is likely to be the final Budget before formal negotiations to take us out of the EU.

So how has the economy fared since June's vote to leave?