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"If you look through the underlying trend our judgement the economy is growing weakly, slightly positive, close to zero," says Bank of England governor Mark Carney, answering questions from MPs.

On Brexit, “the preparations that had been put in place since November...the impact of that has been to reduce in our judgement the worst case scenario”.

On food prices, in the event of no deal, he says: “Now with the new tariff schedule on average the tariffs are very low, on average 3% rather than 5% on imported food, so most of the impact is an exchange rate impact.”

"The scale of those exchange rate moves would mean that most food prices would increase by 5 to 6 percentage points."

He's confident about what happens to banks and other financial companies.

“The UK financial system is ready for Brexit whatever form it takes."

"We would expect fairly notable market moves. We stand ready to provide liquidity.”

Sean Coughlan
BBC News, education correspondent

Schools in England are among the biggest winners from this spending round.

The government, worried about public concern over schools running out of cash, is promising a three-year package to increase funding by £7.1bn.

This is a significant amount of new money and will allow the government to say it has restored school budgets to pre-austerity levels.

School leaders, who have been infuriated about funding problems, have given it a tentative welcome.

They like the extra cash and think they’ve won the argument, but they’re worried that when no one knows what’s happening next week, three years is a long time to wait for all the money to be delivered.

There’s £400m more for further education, described by the Chancellor as the “forgotten sector”.

But the plan from Theresa May’s government to cut university tuition fees has not re-appeared and seems to have been rolled into the long grass.

Noble Francis, Economics Director at the Construction Products Association, digs through the figures

Mr Javid says "whoever you are, [Labour] has a tax hike for you".

But the speaker, John Bercow, orders the chancellor to sit down and tells him to respond to questions and not just make political statements.

He accuses Labour of trashing the economy when it was in power under Gordon Brown during the financial crisis.

Back then, the government was running a budget deficit that was 10% of GDP, Mr Javid said.

He said the Conservatives had brought about a "jobs miracle" with the lowest unemployment rate since 1975.

"The opportunity today was to really end austerity," McDonnell said. "What a missed opportunity."

He said austerity was an economic choice.

"This isn't a government, it's a racket," he said, accusing the government of being uncaring.

Mr McDonnell said there had been no mention of structural reforms to fix what he dubbed as the "social care crisis".

Instead, he accused Mr Javid of using a £1bn "sticking plaster" as 1.4 million people weren't getting the care they needed.

"For schools, the chancellor has announced new spending of £1.8bn next year," McDonnell said.

"The Institute for Fiscal Studies has previously estimated that it would cost £3.8bn this year alone to reverse the cuts that have been made.

"Was the Chancellor aware, when drawing up his spending round, that the Department for Education budget as a whole has been slashed by almost £10bn in real terms since 2010?

"The reality is that heads will still be sending out begging letters and teachers will still buying basic materials for their classes."

Mr McDonnell says announcements have been dripped out over the last week to give the impression of a spending spree.

He said that the "so-called [fiscal] headroom" had been used to prepare for an election as he said that the economy was in a bad state and in fact stagnating.

He called it a "sham of a spending review" and accused the chancellor of failing to end austerity

Roger Harrabin
BBC environment analyst

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Chancellor says a healthy environment will be the basis for society.

He promises £30m to tackle air quality and £30m for nature, especially the Blue Belt marine programme. He says the UK will make world-leading environmental laws post-Brexit.

He promises £200m for local buses, partly for an on-demand trial.

But there’s no infrastructure cash to insulate cold homes. He says more details on decarbonisation will come later in the year.

It’s a far cry from the £42bn that green groups say is needed to protect nature.

Sajid Javid has sat down and the shadow chancellor John McDonnell has taken to his feet and says he misses the old chancellor Philip Hammond.

He accuses Mr Javid of "meaningless platitudes".

"Do not insult the intelligence of the British people," he says, calling the spending round "grubby electioneering".

The chancellor said that the spending round marked the end of austerity, saying that the cuts in the last decade had been tough, but he said they had paid off.

"No department will be cut next year. Every single department has had its budget for day to day spending increased at least in line with inflation. That’s what I mean by the end of austerity," he says.

The chancellor has also unveiled another £2.2bn for the Ministry of Defence, an increase of 2.6%.