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Political and market focus on Chancellor of the Exchequer Rishi Sunak as he delivers the budget statement in the House of Commons later today.
- Sunak is presently briefing Cabinet colleagues on the budget, and is set to be on his feet in the Commons at around 1240BST (0740ET, 1340CET) following prime minister's questions. The speech is expected to end at around 1330BST (0830ET, 1430CET).
- This is being billed as Sunak's first 'real budget', with his statements in the springs of 2020 and 2021 entirely dominated by the pandemic and short-term efforts to keep the economy afloat. This will be the first UK budget since 2019 with a more long-term view.
- Much to the chagrin of House of Commons speaker Sir Lindsay Hoyle, several of the more headline-grabbing details from the budget have already been leaked to the press. These include an increase to the national living wage (the UK's minimum wage), rising transport spending outside London, and more funding for boosting skills. Sky News estimates that at least 15 budget measures have already been released before Sunak gets to his feet.