BUDGET LIVE: Follow the Chancellor’s announcement and reaction…

BUDGET LIVE: Follow the Chancellor’s announcement and reaction here

11:07am

When will it start?

The Budget statement is made shortly after Prime Minister’s Questions in the House of Commons.

PMQs is supposed to last 30 minutes from midday, but sometimes overruns, so the Budget statement is likely to begin shortly after 12.30pm.

11:05am

New five per cent mortgages

Another announcement revealed before the statement is the Government’s new five per cent mortgage loan scheme to help more people onto the housing ladder.

You can read all the details on this here.

11:04am

Community pubs boost

One of the areas of investment to be announced is a £150 million Community Ownership Fund, part of which will give communities £250,000 grants to take over their local pubs at risk of closure.

The funding has been welcomed by local pub campaigners but more support on this issue has been demanded, and you can read that here.

11:02am

What will be in the Budget?

Much of what will be contained in the Budget has already been revealed as is the norm these days.

As expected, furlough and other Covid-specific business support packages will be extended into the summer, and other areas of investment have also been announced.

However, issues around tax rises remain unconfirmed ahead of the statement.

Read a full run down of everything you need to know about Budget day here.

10:59am

Hello and welcome to live coverage of today’s Budget statement by the Chancellor Rishi Sunak.

We will be covering the statement which is due to begin shortly after 12.30pm, all the reaction from around the district, and Mr Sunak’s press conference this afternoon, a first for Budget day