Rachel Reeves delivers Spring Statement on plans for UK economy

Rachel Reeves will unveil her Spring Statement today as the state of the public finances are laid bare. The Chancellor will deliver a 20-minute assessment on the UK economy - but she has already signalled it won’t be a "tax and spend" event. However, she is facing trouble ahead on several fronts with government borrowing higher than predicted and growth expected to plummet. She will be told that her headroom of around £10billion from last year has been wiped out. Ms Reeves will deliver the Budget after PMQs in the House of Commons at 12.30pm.