LONDON (AP) — Britain's Treasury chief has little room to maneuver Wednesday as he reveals his spending plans to a nation bracing for the shock of Brexit.

While Philip Hammond is promising to tackle a bleak economic outlook "head on," a slowing economy and stubborn deficit mean there is little money available to increase spending in the face of demands from teachers, firefighters, the National Health Service and the military. Adding to the pressure is the government's need to preserve state coffers for the potential turmoil of Britain's exit from the European Union.

Prime Minister Theresa May's weakened government is hoping for excitement without controversy. Hammond, who has been nicknamed "Eeyore" because of his cautious approach, is under pressure to appear upbeat about the economy's prospects after Brexit.

In remarks released ahead of the address, he has painted an optimistic vision of a "global Britain," that will embrace the technological revolution and capitalize on the opportunities presented by leaving the EU. He promised an approach that would be "balanced" amid pleas to end austerity.

"Today I will present my first Autumn Budget to the House of Commons - a forward looking Budget to embrace change, meet our challenges head on and seize the opportunities for Britain," Hammond tweeted just before rising to present the budget.

But the numbers offer a gloomy backdrop. Public finances are weakening. Public borrowing rose more than expected in October, driven by higher borrowing costs. Borrowing is at a similar level to that before the 2007-2008 financial crisis, the House of Commons said.

Public sector net debt now totals 87.2 percent of gross domestic product, compared with less than 40 percent in 2007, the Office for National Statistics said Tuesday.

At the same time, the Office of Budget Responsibility has warned that it will cut its forecast for productivity over the next five years. That is expected to mean lower tax revenues and make it harder for Hammond to ease austerity and boost public sector pay.

Paul Johnson, director of the independent Institute for Fiscal Studies, told the Economia website that Hammond was caught "between a rock and a hard place."

"One the one hand, he is under pressure to cut spending to hit his fiscal targets, on the other he is under pressure to increase spending," he said. "It's a genuinely difficult Budget."