Following the budget announcement from Philip Hammond, Labour leader Jeremy Corbyn has dismissed the speech as another notch on the government's "record for failure".

Speaking just after Hammond's speech, Corbyn said: "The test of a budget is how it affects the reality of people's lives all around this country.

"As the budget unfolds, the reality is that a lot of people will be no better off and the misery that many are in will be continuing."

He added that pay was lower than it was in 2010 and wages were falling, while he claimed that economic growth was the lowest since 2009 and the slowest among the G7 nations, which represented the government's "record for failure".

In his budget speech, Philip Hammond revealed that growth estimates for the next few years had been cut by the OBR.

Hammond explained that cuts on the deficit remained on course.

In addition to the £700m (€789m) already set aside to cope with Brexit, an additional £3bn was announced for the next few years.

He also addressed concerns over Universal Credit, which has been criticised by MPs from all parties.

To help earners, it was announced that the National Living Wage was to rise by 4.4% from £7.50 an hour to £7.83.

He also announced a slash in the time that it takes to receive payments as well as a series of other measures, costing £1.5bn.

One surprise announcement that came amid a raft of housing changes was the immediate abolition of stamp duty for first-time house buyers on homes up to £300,000.