Summary

  • Stamp duty to be abolished for all first-time buyers up to £300,000

  • Official economic growth estimate is downgraded

  • Business rate cut brought forward and £2.8bn extra for NHS in England

  • Higher road tax for diesel cars - not vans - to pay for "clean air fund"

  • Universal Credit - pledges made on reduced waiting and claimant advances

  • Jeremy Corbyn calls Budget a "record of failure with a forecast of more to come"

Live Reporting

Chris Johnston, Claire Heald, Dan Macadam and Mary-Ann Russon

  1. Good morning

    Theresa May and Philip HammondAFP

    Welcome to Budget day in November.

    Chancellor Philip Hammond will present his Budget to Parliament at about 12:30 this afternoon.

    He is expected to say the UK must "seize the opportunities" from Brexit while tackling deep-seated economic challenges "head on".