Europe

UK treasury chief's budget to offer cautious approach

  • Britain's Chancellor of the Exchequer, Philip Hammond, poses for photographs during final preparations for his official 2017 budget announcement, in his office at the Treasury in London Tuesday March 7, 2017.  Hammond will deliver his major spring Budget Wednesday March 8, in a speech to the House of Commons which will outline the government's financial tax and spend aims for the coming months. (Carl Court/Pool via AP)

    Britain's Chancellor of the Exchequer, Philip Hammond, poses for photographs during final preparations for his official 2017 budget announcement, in his office at the Treasury in London Tuesday March 7, 2017. Hammond will deliver his major spring Budget Wednesday March 8, in a speech to the House of Commons which will outline the government's financial tax and spend aims for the coming months. (Carl Court/Pool via AP)  (The Associated Press)

  • Britain's Chancellor of the Exchequer, Philip Hammond, poses for photographs during final preparations for his official 2017 budget announcement, in his office at the Treasury in London Tuesday March 7, 2017.  Hammond will deliver his major spring Budget Wednesday March 8, in a speech to the House of Commons which will outline the government's financial tax and spend aims for the coming months. (Carl Court/Pool via AP)

    Britain's Chancellor of the Exchequer, Philip Hammond, poses for photographs during final preparations for his official 2017 budget announcement, in his office at the Treasury in London Tuesday March 7, 2017. Hammond will deliver his major spring Budget Wednesday March 8, in a speech to the House of Commons which will outline the government's financial tax and spend aims for the coming months. (Carl Court/Pool via AP)  (The Associated Press)

  • Britain's Chancellor of the Exchequer, Philip Hammond, poses for photographs during final preparations for his official 2017 budget announcement, in his office at the Treasury in London Tuesday March 7, 2017.  Hammond will deliver his major spring Budget Wednesday March 8, in a speech to the House of Commons which will outline the government's financial tax and spend aims for the coming months. (Carl Court/Pool via AP)

    Britain's Chancellor of the Exchequer, Philip Hammond, poses for photographs during final preparations for his official 2017 budget announcement, in his office at the Treasury in London Tuesday March 7, 2017. Hammond will deliver his major spring Budget Wednesday March 8, in a speech to the House of Commons which will outline the government's financial tax and spend aims for the coming months. (Carl Court/Pool via AP)  (The Associated Press)

Britain's Treasury chief is set to deliver an upbeat message as he unveils a cautious budget meant to help the country bolster resources as it faces the uncertainty of leaving the European Union.

Philip Hammond is due to deliver Wednesday a plan for the 2017-18 fiscal year that he says will lay the foundations for a "stronger, fairer, better Britain" outside the EU.

The caution comes despite an improvement in the government's finances. Hammond says Britain is still 1.7 trillion pounds in debt, although the latest figures show government borrowing during the 2016-17 year will probably be about 12 billion pounds less than previously forecast.

The Organization for Economic Co-operation and Development says it expects U.K. growth of 1.6 percent this year, up from the 1.2 percent predicted in November.