Order,

Before I call the Chancellor the Exchequer, I remind Honourable Members that copies of the Budget Resolutions will be available in the vote office at the end of the Chancellor's speech.

I also remind Honourable Members that it is not the norm to intervene

on the Chancellor of the Exchequer or the leader of the opposition. I now call the

Chancellor of the Exchequer the Right Honourable, Philip Abbott.

Thank you Mr Deputy Speaker.

I report today on an economy that has continued to confound the commentators with robust

growth, a labour market delivering record employment and a deficit down by over two-thirds.

As we start our negotiations to exit the European Union, this budget takes forward our

plan to prepare Britain for a brighter future.

It provides a strong and stable platform for those negotiations.

It extends opportunity to all our young people.

It delivers further investment in our public services

and it continues the task of getting Britain back to living within its means. We are building

the foundations of a stronger, fairer, more global Britain.

Mr Deputy Speaker, as the House knows, this will be the last spring budget.

The Treasury has helpfully reminded me that I am not the first Chancellor to announce the last

spring budget.

24 years ago, Norman Lamont also presented what was billed then as the last spring budget. He reported on an economy

that was growing faster than any other in the G7 and he committed to continued restraint

in public spending. The then Prime Minister described it as the right budget at the right

time from the right Chancellor. What they failed to remind me,

...