Laura Kuenssberg, Faisal Islam and Simon Jack react to the headlines from the chancellor’s update on the UK economy.

The BBC’s political editor explained the significance of a National Insurance rise and pledges for future tax cuts in Rishi Sunak’s Spring Statement.

While our economics editor examined the effect of rising inflation and the effect on pay packets, and the BBC business editor looked at growth level cuts alongside rising corporation tax.

They were speaking to Politics Live presenter Jo Coburn.

LIVE: Chancellor Rishi Sunak delivers Spring Statement

BBC coverage of the Spring Statement