The chancellor will not be using todays spring statement as a “mini-Budget”.
The Treasury says there will be no policy announcements or tax and spending measures – they will be held back to the Budget in the autumn.
Instead, Mr Hammond will unveil the latest economic forecasts from the Office for Budget Responsibility in a brief 15-minute statement to MPs.
He is set to unveil consultations on a single-use plastics tax and a possible tax on the profits of digital giants like Facebook and Google.
He is expected to reveal that tax receipts are covering day-to-day government spending for the first time since the 2008 financial crisis.
Borrowing is expected to be up to £10bn lower than expected last year, as a result of better-than-expected tax revenues.
Growth also looks set to be slightly higher than forecast last year – but public debt as a percentage of national income remains well above 80%.