Autumn Statement 2016

Chancellor Philip Hammond has announced measures for lower-income and self-employed workers in his first Autumn Statement.

He said that the minimum wage will rise by 30p an hour that the Government will raise the income tax free personal allowance to £12,500 by the 2020 at the latest.

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Finance Minister Mark Drakeford has told AMs that the Welsh Government will make the most of extra money from the Chancellor. But he added that £400 million over five years was not going to meet the needs of Wales.

Mr Drakeford said the money announced today wouldn't make upo to the 33% cut in the Welsh Government's capital budget since 2010. It's currently £1.5 billion a year.

The Ministry of Justice has been given permission to employ a further 2,500 prison officers "to tackle urgent prison safety issues," Philip Hammond has announced in his first Autumn Statement.

• Updates: Chancellor delivers first Autumn Statement
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Chancellor Phillip Hammond has said that he is "recommitting" to the support for Swansea and north Wales city deals announced by his predecessor, George Osborne. The aim is to encourage fresh business investment in the chosen areas.

Chancellor Phillip Hammond says Wales will get £400 million as a consequence of the spending on roads and other infrastructure that he's announced for England.

The Chancellor said high value infrastructure investment will improve Britain's productivity and so he could justify the "short term borrowing" to pay for it.

Chancellor Philip Hammond has announced rising Government borrowing figures as he confirmed it no longer plans to deliver a surplus in public finances by 2020.

He said Government borrowing will fall from £68.2bn this year to £21.9bn in 2019-20, followed by £20.7bn and £17.2bn in 2021-22.

ITV Economics Editor Noreena Hertz tweeted:

The new figures show a widening gap between the planned forecasts delivered by his predecessor George Osborne back in March.

The Chancellor of the Exchequer has begun delivering his first Autumn Statement in the House of Commons.

Philip Hammond began by saying it was a 'privilege to report on an economy with employment at a record high.'

Watch live: Hammond delivers first Autumn Statement