Autumn Statement as it happened: Chancellor Philip Hammond sets out 'new chapter in UK's history'

Philip Hammond has said the Brexit vote underlined the "urgent" need to tackle the UK economy's long-term weaknesses as the Budget watchdog slashed growth forecasts for next year.

The Chancellor, delivering his first Autumn Statement, said the economy had so far "confounded commentators" with its "strength and resilience".

But he revealed the Office for Budget Responsibility had downgraded growth forecasts for next year from 2.2% to 1.4% as a result of the uncertainty caused by the Brexit vote and higher inflation due to the fall in sterling.

Here is how it unfolded: