Heads up on the UK Spring Statement due later in the day

Author: Justin Low | Category: News

UK chancellor Philip Hammond will address parliament at 1230 GMT

It should last somewhere between 20-30 minutes, but the entire session is expected to go on for a couple of hours. Hammond will be updating the parliament on UK's economic outlook.

The Spring Statement is basically a shorter and summarised version of the main budget, which is now moved to autumn since 2016. The statement here is not likely to contain any major announcements, as Hammond will probably save that for November.

Reports are saying that there will be some detail given on the Brexit 'divorce bill' so that will be one to keep your eyes on.

Eamonn had a couple of previews on the matter here earlier.