Britain's Conservative government unveils its annual budget Wednesday, against the backdrop of looming Brexit and sluggish economic growth.

Finance minister Philip Hammond will deliver his annual tax and spend plans before parliament at 1230 GMT.

Chancellor of the Exchequer Hammond will vow to "invest to secure a bright future for Britain" according to excerpts of his keynote speech, in a hint he may be ready to start bringing down the curtain on unpopular austerity.

Hammond is under pressure to deliver an eye-catching budget after Brexit spats with cabinet colleagues -- and following Prime Minister Theresa May's botched general election earlier this year.

He will pledge to build "a Britain fit for the future" in his second budget statement, but has already dampened expectations about the end of austerity -- insisting that the budget measures will be "balanced".