Chancellor Philip Hammond has said his first Autumn Statement "is focused on preparing and supporting the economy as we begin writing a new chapter in our country's history".

He announced this afternoon that he has scrapped the Autumn Statement, so this will be the last one. The Budget will now be in the autumn, with a Spring Statement, much to the amusement of MPs in the House of Commons this afternoon.

It's a move recommended by the IMF, and Mr Hammond said: "This change will allow for greater Parliamentary scrutiny of budget measures ahead of their implementation."