Good evening and welcome to bbc news. The chancellor, Philip Hammond, has presented his first budget, promising to build a brighter future, as the government prepares to start the formal process of leaving the european union. Among the menus was in issue £2 billion be spent on social care in england over the three years. The chancellor was accused of breaking a conservative Manifesto Promise by increasing National Insurers for millions of Self Employed people. And he offered some help for firms in england facing higher business rates. Well have details of the speech and we start with our Political Editor laura kuenssberg. Number 11 fears rainy days. So there was no chance that the chancellor would emerge to spicy cash. Saving for a would emerge to spicy cash. Saving fora rainy would emerge to spicy cash. Saving for a rainy day, chancellor . The Kmart Holding the box. Less broad smile, more grin and bear. From lonely journey to the smile, more grin and bear. From lonelyjourney to the roar of smile, more grin and bear. From lonely journey to the roar of the commons bearpit. He came out holding. His boss hardly looked worried about how he would perform. The right honourable Philip Hammond. At his first and most spring budget. Next time, it will be in the autumn. Norman lamont also build what was billed as the last bring budget. Later, he was sacked. So wish be like today. The countrys finances less picky than expected, but as he knows, hardly any clear. Our report today on an economy that has continue to confound the commentators with robust growth. Peaky. They commentators with robust growth. Pea ky. They Labour Market commentators with robust growth. Peaky. They Labour Market with Record Employment at a deficit down by two thirds. As we start our negotiations to exit the european union, this budget to export our plan to prepare britain for a brighterfuture. Plan to prepare britain for a brighter future. That no. But no. Cuts. But no. Cuts. Some have argued that Lower Borrowing this year makes a case for more borrowed spending in the future i disagree. We on this side will not settle our children with ever increasing debt. But he did break with the plan and arguably broke his partys Manifesto Promise, announcing a tax increase on more than 2 million of the Self Employed. The difference in National Insurance contributions is no longerjustified by the difference in benefit entitlements. Such dramatically different treatment of two people owning essentially the same undermines the fairness of our tax system. About 2. 5 Million People had to pay more. The average lost £240 per year. There are other changes to National Insurers, too. Some Tory Backbenchers have cried foul and a furious at attack on the tory tribe. But the Health Secretary had reason, perhaps, to be pleased with what was coming. Our Social Care System cares for overi Million People, and i wa nt to for overi Million People, and i want to pay tribute to the hundreds of thousands of carers who work in it. But the system is clearly under pressure. And this in turn puts pressure. And this in turn puts pressure on our nhs. He will spend 2 million of taxpayers money on social ca re million of taxpayers money on social care in england. I billion available in the next 12 months. £i2 million. £2 billion will stop and each has accepted there had to be a stop to those facing the biggest hikes. The revaluation has undoubtedly raise some hard cases. Especially for those businesses coming out of Small Business rates relief. £300 million will go to local councils to help small firms with business rate rises. None of them will face hikes of more than £50. There was extra cash for scotla nd £50. There was extra cash for scotland for Scotland Wales and northern ireland. But with the seeds ofa northern ireland. But with the seeds of a row over National Insurers sewn behind him, the chancellors final words may not be allowed to stand. We embark on this next chapter of our history confident in our strengths and clear in our determination to build a stronger, sarah, better britain. I commend this budget. Stronger, fairer, better. This was a budget of up to complacency about the state of our economy. When she took office, the Prime Minister said if youre one of those families if you are just managing, iwant those families if you are just managing, i want to you directly. This budget does not address them. It failed. This budget has done nothing to tackle low pay, nothing to tackle the State Of Emergency that persists for so many people demanding and needing social care now. Oversaw opportunity after only glancing mentions of the Biggest Issue around town. There is 100 billion extra borrowing because the government has a hard breath. You cannot have a Strong Economy with a ha rd cannot have a Strong Economy with a hard brexit. Therefore you cannot have strong funded nhs and social Ca Re Have Strong Funded Nhs and social care or education. He barely mention brexit. The biggest single risk to the uk and british economies. He has punished the poorest and most vulnerable. An appalling budget. Safety first . Not quite, with a dispute over National Insurance. No government wants accusations that has not kept its word. Cheering did you break your promise by minister . It is rare any chancellor and the next neighbour escape but its totally unscathed. Next neighbour escape but its totally unscathed. Did you break. In his first budget, mr hammond told mps that in the near term, Economic Growth was expected to be higher and borrowing lower, than forecast in november. But he said debt remained too high and the governments job was farfrom done. Our economics editor editor kamal ahmed has the analysis of the latest figures. This was the growth forecast. Just 1. 496. This was the growth forecast. Just i. 4 . Before slowly recovering to around 2 by 2020. Today, certainly better news, at least for this year. 296 better news, at least for this year. 2 growth, but they look, that dip down as Britain Negotiates its way at the european union, before again at the european union, before again a slow recovery back to 2 . Well, the economy has had more momentum coming through 2016 and into the early months of this year than we expected back in the autumn, but we havent changed our view about the total growth that the economy can sustain over the next five years. So if you have more good news at the beginning of the forecast, you have slightly weaker growth through the rest of it. That is also true for borrowing. Last november, it was predicted the deficit, thats the difference between what a government spends and what it receives in taxes, would hit £68. 2 billion, on the far left of the graph, before falling every year, to £21 billion, by 2022. Now, just for some context, it costs about £100 billion to run the whole of the nhs for a year. Again today, in the short term, good news. Borrowing this year will be better, at £51. 7 billion, but the picture worsens next year before again borrowing falling to about the same amount in 2022. Around the same amount that was predicted in november. Remember, George Osborne initially wanted to get us to a Budget Balance by now. Then he took that out to 2020 and Philip Hammond now says hes 0k to wait until 2025. So we could end up with 15 years, 15 years of austerity to get where mr hammond wants to get. Now, social care was the big spending commitment today and there were two tax rises to pay for it. A £2 billion tax rise over the next five years, paid by the Self Employed in higher National Insurance contributions and a £2. 6 billion tax increase for Business Owners and investors who take whats called Dividend Income from the shares they own. Now, one thing was left out of the budget box today and that was any real mention of brexit, but that doesnt Mean Companies arent worrying about it. Businesses are feeling the weight of uncertainty very strongly. They would like to have seen more to shore up short term confidence, particularly around business rates, but they will welcome the investment in some of the longer term areas, like skills and the recommitment to infrastructure investment. This is actually a pretty short budget. Just 28 tax and spend measures this year compared with 77 in 2016. But it was significant. Big reviews are now in place on how we taxed the new world of work and the Self Employed, and how we pay for social care. Now a little bit more analysis coming up in newsnight. Philip hammonds first budget. It was dropped for the giants. Fairer. Bear with me, i have a tendency to defend. Disruptive technologies like biotech, drivers as vehicles, this is something i think the Party Opposite knows about. Under the last Labour Government, Corporation Tax was 28 . And by the way they dont call it the last Labour Government for nothing. The right honourable gentleman opposite, so far down the black hole that even Stephen Hawking has disowned him. But behind the partisan gains, he is dropped and ma nifested partisan gains, he is dropped and manifested pledge not to raise National Insurance. The main rate for the Self Employed will increase from 1 to 10 , with a further 1 increase in april 2000 19. Overall, it did feel like a new era in budget policy making. In Market Change in style, but with a certain familiarity of substance. We will hear from the familiarity of substance. We will hearfrom the government familiarity of substance. We will hear from the government and the opposition as to where we go from here. And here in brentwood in essex, what has the reaction been on the street, where Philip Hammond grew up . I have been finding out. Hello. Do you rememberjames bond in die another day . The one with the invisible car. Everyone loved the gimmicks at first. And then they thought, its all gone way too far and they went to daniel craig in casino royale, and it was all about back to basics. No silliness. Lots ofjokes, but fewer tricks. Well, the budget today is a kind of casino royale. It was in a new, plainer style, fewer gimmicks. Although lots of jokes. Deadpan phil delivers them rather well. But in line with the plainer style, the substance, too, was straightforward. His mantra was, stick to the plans. Some have argued that Lower Borrowing makes a case for more unfunded spending. I disagree. Britain has a debt of nearly £1. 7 trillion. Almost £62,000 for every household in the country. So the only responsible course of action, mr deputy speaker, is to continue with our plan. So no big change of direction. This is not the time. Interestingly, while George Osbornes last budget had 145 pages and 77 different measures in it, Philip Hammonds had 64 pages in only 28 measures. Some would say it is a non budget, bar a controversy that will talk about shortly. But do not underestimate the quiet man. This was big, even bigly, in two respects. This was really a moment to celebrate. Because, borrowing is officially more or less back in the range of normality for the First Time Since 2009. Yes, were back at levels of borrowing gordon brown was comfortable with. And, just in time for brexit, we are at last meeting the eu deficit rules. Overall, Public Sector net borrowing as a percentage of gdp is predicted to fall from 3. 8 last year to 2. 6 this year. And, for those who care about such things, it means we are forecast to meet our 3 eu Stability And Growth Pact target this year for the first time in almost a decade. But i wont hold my breath, mr deputy speaker, for my congratulatory letter from Jean Claude Junker laughter now, before you crack open the prosecco, the bad news was not talked about in the budget. Its all about the planned austerity over the next few years. Now, heres the graph. This is what is meant to happen to spending on public services. This is spending per head, and it dips several percent from 2015 to 2021. The big gamble is whether those cuts can really be delivered. Its whether well stomach them when borrowing is no longer seen as a crisis. What do you think . Well, that is the broad brush. But theres a funny thing about budgets