The U.K.'s Chancellor Philip Hammond will be in the spotlight Wednesday when he presents the government's first "Autumn Statement" on the state of the economy after the Brexit vote. Analysts will be poring over Hammond's speech for clarity on what the government's economic plans are after the decision to leave the EU.
"It's normally an important fiscal event…But this year it's even more significant because of the uncertainties surrounding the (Brexit) referendum," Philip Shaw, chief economist at Investec told CNBC over the phone.
It is also the first Autumn Statement delivered by Phillip Hammond, who replaced George Osborne as Chancellor in July, who has said there would be a "fiscal reset," Shaw noted.
Last June, when British voters decided to give up on its membership of the European Union, analysts foresaw an economic contraction for Britain, both in the short- and medium-term. However, the economy has proven more resilient than originally expected, growing 0.7 percent and 0.5 percent in the second and third quarters of this year respectively.
"Absent a sharp slowdown, we are sceptical about the case for a short-term fiscal boost, particularly with a starting point where the economy is at full employment. But we see better case for more sustained support to offset the Brexit drag," Morgan Stanley said in a research note last week.
CNBC takes a look at some of the issues surrounding the Autumn Statement.