It has already been revealed that investment in science and free schools will be among the announcements in Philip Hammond's first full budget.

The Chancellor of the Exchequer is expected to announce £320m to create 140 additional schools, including grammars, with £500m already promised towards research and development in the sciences.

A £500 increase to the income tax threshold has also been unveiled.

But what could the chancellor surprise us with?

Changes to business rates calculations have been in the spotlight with some firms fearing a scheduled rise could tip them over the edge.

Dr Adam Marshall, director general of the British Chambers of Commerce, said: 'Businesses face a tipping point: with rates rising for many and the combined costs of currency depreciation, the new National Living Wage, pensions auto-enrolment and rising energy prices – urgent action is needed to reduce the upfront costs of doing business.

'In the short-term, the government must provide additional relief to the firms hit hardest by rates and re-visit the detail of reform to the appeals system. It should bring forward the change from RPI to CPI this year.'

Other mooted announcements changes to pensions, stamp duty and a cigarette excise increase.