This is Philip Hammond’s first budget statement since the general election in June and the third since he became chancellor last year. Public servicesWhat we know: The government’s 1% cap on public sector pay rises will be relaxed in the police and prison services. HousebuildingWhat we know: the private sector and housing associations built 220,000 new homes last year - up from 150,000 in 2015. What we know: Hammond is under pressure from Labour to tackle aggressive tax avoidance, following publication of the Paradise Papers earlier this month. What to look out for: Hammond is keen to extend a crackdown on single person companies operating in the public sector to the private sector too.

Source: The Guardian November 21, 2017 17:36 UTC