The Chancellor is outlining the measures he hopes will boost the ailing economy in the wake of the coronavirus lockdown.

Rishi Sunak’s summer update to the House of Commons comes as he faces pressure to assist those who are most at vulnerable to the effects of the financial crisis.

The coronavirus recovery package is expected to include a stamp duty “holiday” to invigorate the housing market and a “kickstart scheme” for 16 to 24-year-olds who are claiming Universal Credit and at risk of long-term employment.

12.30pm

The Chancellor begins his speech.