It will be the final government spending plan announcement before the UK officially leaves the European Union in March 2019 and the Treasury has said it will help to “build a stronger, more prosperous economy”.
Jayne Dowle: The Budget – Help to share the burden for self-employed parentsSo where can you watch it, what time does it start and what can we expect from Hammond’s statement?
Where can you watch the Budget?
Mr Hammond will deliver his Budget live on Monday 29 October – exactly five months before the official Brexit date – and it will be broadcast live on BBC One at 3pm.
Incidentally it is the first time since 1962 that a UK government has unveiled its budget on a Monday.
You can also watch it on the BBC News Channel on Sky channel 503, Virgin media channel 601 or Freeview channel 107.
It will also be streamed live on BBC Parliament through BBC iPlayer from 3.30pm but you’ll need to register to log in.
What are we expecting Mr Hammond to announce in his statement?
The Chancellor’s final package is expected to focus on Brexit and the Prime Minister’s pledge to end austerity.
But one of the big things expected to come out of Monday’s speech is a £1.5bn drive to breathe fresh life into struggling high streets by cutting business rates and sprucing up shopping areas.
He is expected to pledge to cut business rates for small retailers by one third at a cost of £900m, and to spend a further £650m on face-lifting high streets and improving their transport links.
The Yorkshire Post says: Balancing act for Philip Hammond in Budget overshadowed by BrexitWhat about fuel duty and NHS spending?
At the Tory party conference, Theresa May announced that the Conservatives will continue to freeze fuel duties for the ninth year in a row.
The Chancellor said the freeze had “come at a significant cost to the exchequer, but the high oil price and the near-record pump price of petrol and diesel are also imposing a significant burden on motorists”.
Mrs May also announced earlier this year that there will be a spending boost to the NHS, so people will be anticipating how Mr Hammond is planning to fund the extra £20bn per year that has been pledged for the NHS.
Will a new digital service tax be imposed?
At his speech at the party conference, Mr Hammond said global internet giants such as Google and Facebook must contribute to funding public services.
He also announced he is intending to impose a new “digital services tax” which will measure the the value companies generate from UK users looking at adverts and then introduce a tax paid on that value.
This article originally appeared on our sister title inews.co.uk