Reaction to the Chancellor's first - and last - Autumn Statement has ranged from praise to anger that the government was only “tinkering” with problems faced by workers.

One of the most popular measures was the ban on letting agent fees, which Citizens Advice estimated would save renters hundreds of pounds.

Chancellor Philip Hammond said the Office for Budget Responsibility (OBR) has slashed the GDP growth forecast for 2017 from 2.2% to 1.4%, as the EU referendum result means potential growth in the near future will be lower than expected.

He confirmed he is abandoning predecessor George Osborne's aim of achieving a budget surplus by 2019/20, saying he is committed to returning public finances to balance “as soon as practicable”.

Borrowing is forecast to reach £68.2 billion by the end of this year as the government works to balance the books.

Today’s (November 23) announcements in the House of Commons mark the last-ever Autumn Statement as next year’s statement will be announced in the spring and the Budget will be moved to the autumn.

Mayor Sir Steve Bullock, London Councils’ executive member for housing, called the announcement more money will be made available for affordable homes in London “a positive step” for outer boroughs.

He said: “As latest figures released this week have clearly shown, huge steps needs to be taken to address the lack of affordable housing in London and the gap between numbers of homes being built and the housing needs of residents.

“London Councils has made clear there is a desperate need for thousands more homes, of a range of tenures, to be built.

“This specific cash injection for affordable homes will allow the Mayor of London, boroughs and other partners to carry out and extend ambitious plans to properly tackle the capital’s housing crisis.

“London Councils will continue to make the case for boroughs to be given the tools they need to meet the huge challenges they face.”

He expressed worry the completion rates for housing remain low, saying ministers need to work with boroughs, the London assembly and developers to ensure permitted housing is built out in the city.

Tim Evans, professor in business and political economy for Hendon’s Middlesex University, called the announcements a “low-key statement for a low-key chancellor”.

He said: “With government debt heading towards £2 trillion or 90% of GDP, the government is now gambling on the idea greater borrowing and investment in the short term will deliver substantially greater growth in the years ahead and into the 2020s.

“The government is stressing things like 5G internet, more and better rail services and substantial improvements to many roads.

“Although largely devoid of truly major announcements and changes in areas such as taxation, today’s statement lays bare the strategic conundrum now facing the Treasury as it struggles to navigate a rapidly changing and increasingly indebted world.”