The Chancellor has given a grave warning about Britain’s debts as he laid out his first Budget this afternoon.

The Chancellor Phillip Hammond pledged on Wednesday to build “a stronger, fairer, better Britain, outside the EU”, in his first Budget.

As the Budget looms later today, there are calls for Chancellor Phillip Hammond to scrap planned pension changes and to adjust inheritance tax rules.

The so-called post-Brexit ‘punishment Budget’ may only have been delayed rather than scrapped, an investment firm’s senior analyst has warned.