Chancellor Rishi Sunak is delivering his Budget in the House of Commons.

Mr Sunak has pledged to do “whatever it takes” to help people and businesses through the coronavirus crisis.

He aims to use the Budget to “get people through to the other side of the crisis” – with the furlough scheme and other financial lifelines set to be extended – and set a course for an economic bounceback.

Here’s the latest:

11.57am

Hundreds of jobs look set to be relocated from London to Darlington under the Chancellor’s Treasury North project.

In a video to his department’s civil servants, Mr Sunak said that after “a lot of thought and energy”, the new economic campus would be in the North East market town.

He said he was “really excited” about the decision, according to a recording of the message shared on social media.

11.54am

Mr Sunak holds the red box aloft ahead of his Budget address.

11.50am

Mr Sunak told ministers the impact of coronavirus on the national finances cannot be ignored, but the UK can be “optimistic about our recovery”, as he updated the Cabinet ahead of the Budget.

The Chancellor said the pandemic had hit the economy hard and “we must be honest with ourselves and the country about what that has meant”, with borrowing pushed to wartime levels, according to Downing Street.

Mr Sunak said “we know that we cannot ignore this problem and it wouldn’t be right or responsible to do so”.