The new Chancellor of the Exchequer, Philip Hammond, had his first opportunity to show everyone what he had in mind for the UK economy when he presented his Autumn Statement on Wednesday. Read this handy summary.

To note under education, the Chancellor has earmarked £240m for the expansion of grammar schools in England over the next four years.

One announcement that did surprise MPs was the switch to an Autumn Budget and a Spring Statement. This will mean that after the March 2017 budget and Finance Bill future budgets will be delivered in the autumn.