With around 24 hours to go, speculation is mounting about the contents of tomorrow\u2019s Budget speech.<\/p>\n
It\u2019s easy to forget that this is the fourth time in 12 months that the Chancellor, George Osborne, has stepped up to the despatch box.<\/p>\n
Last year he delivered a pre-election Budget in March, a revised package in July and the Autumn Statement, although tomorrow\u2019s speech may prove trickier than any of those the Chancellor gave in 2015.<\/p>\n
It is looking increasingly likely that the Government is facing a far larger hole in public finances than was predicted towards the tail-end of last year.<\/p>\n
The less favourable forecasts will mean that Mr Osborne may well have to announce further spending cuts, having previously been given greater room for manoeuvre by the Office for Budget Responsibility (OBR).<\/p>\n
When it comes to new policies, the Chancellor has already had to give ground on further changes to pension rules; abandoning proposals in the face of increasing dissent emerging in his own party.<\/p>\n
Many are predicting that Mr Osborne may be dissuaded from any particularly audacious announcements, mindful perhaps of the looming European referendum and the possibility that a misjudgement may have fairly drastic implications when Britons go to the polls in June.<\/p>\n
That said, commentators are speculating that the Chancellor may look to increase fuel duty for the first time in five years and announce an increase to Insurance Premium Tax.<\/p>\n
There will also be a lot of interest about possible reforms to the business rates system, with bodies such as the CBI bringing pressure to bear on the issue.<\/p>\n","protected":false},"excerpt":{"rendered":"
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