In what promises to be a boisterous event, Alistair Darling will update MPs on the future of Northern Rock at 3.30pm.
The chancellor will outline the range of options on the table, in a ministerial statement.
We already know that Northern Rock has received around 10 approaches which have one thing in common - they all put a much lower price on the bank than last Friday's market value.
This revelation sent Northern Rock's shares crashing again this morning, and only added to fears that taxpayers will be out of pocket by the time this fiasco is resolved.
We'll bring you live coverage of the statement and the debate that follows.
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