As storm clouds gather over Westminster today, the deputy prime minister, Nick Clegg, has called for “people to come together” prior to the autumn statement today and the union strikes tomorrow.

The chancellor is expected to say the spending cuts will continue until 2017.

Inflation is 5 per cent for October, says the Office for National Statistics, still way above the government's 2 per cent target.

More than 100 MPs, including 83 Conservatives, back a motion that calls for a "price stabilisation mechanism".

Scandalous Fuel Prices to be Debated in Parliament After FairFuelUK E-Petition Reaches 100,000 Signatures

Thomas Cook has announced that it will axe 230 jobs by the end of 2011. The announcement was made to Thomas Cook airline staff Wednesday that will largely effect Manchester airport although crew at other UK airports are also set to be affected. The company has announced a 90-day consultation with staff over plans to cut six of its 41 aircraft by the end of the year.

Read here the full text of Chancellor George Osborne's Budget speech to the House of Commons.

Today George Osborne will be unveiling the annual budget, follow live coverage hear to find out the Government's latest plans to cut the deficit and promote growth and the Opposition reaction.

Shares in WM Morrisons were up on the FTSE 100 in morning trading after the supermarket chain reported a rise in sales in the six weeks to 2 January 2011.

Harriet Harman, acting Labour leader responding to Mr Osborne's Emergency Budget Statement said: "This is a Tory Budget that will throw people out of work, hold back economic growth and harm vital public services....It's his first Budget but its the same old Tories....In order to get the deficit down, you need to keep economic growth up and you need to keep unemployment down....Today's Budget is bad for growth and that will make it harder to cut the deficit."