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But the weather warning is expected to be downgraded to a yellow "be aware" warning on Thursday.
The amount that MPs have to contribute to their pensions is set to increase while MPs' final salary scheme is expected to be downgraded to a career average in line with the rest of the public sector.
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The chancellor is also expected to be forced to downgrade his economic forecasts, and has signalled that he will use his statement to announce fresh spending cuts, in order to hit his target of generating a surplus on the public finances by 2020, against the backdrop of a deteriorating world economy.
The fund is expected to be less exposed to downgrades by ratings agencies than the existing European Financial Stability Facility.
In the first of what is expected to be a wave of downgrades, Moody's has cut the rating of 131 subprime bonds because of higher-than-expected defaults.
Individuals who successfully employ the tactic can expect their charges to be downgraded from murder to manslaughter.
But in the case of India (which is projected to see 6.3percentt growth in 2015), China and several Asian nations, the growth rate — even with downgraded forecasts — is expected to be much higher than in the U.S. Do you have information you want to share with HuffPost?
By the first quarter of 2017, the jobless rate is expected to be 5.9%, a sharp downgrade from the 6.3% predicted in February.
While any downgrade was expected to be small, it would probably increase turmoil in financial markets.
Profits for 2014 are now expected to be £130m-£140m, around £20m lower than forecast, with the outlook downgraded for 2015.
Economic growth, even after a series of downgrades by forecasters, is expected to be little short of 6% in the current fiscal year.
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