Budget Day 2016

Today is one of the few Wednesdays when Prime Minister’s Questions is overshadowed. It will almost certainly be overshadowed by the delivery of the annual budget by the Chancellor of the Exchequer which will start shortly after 12.30pm.

I do not expect any massive tax increases or indeed and massive tax giveaways. I think it will be a ‘steady as she goes budget’. There is no doubt the economic outlook across the World has deteriorated since the Autumn Statement last year. China is still not growing as fast it was. The oil price is still at historically low levers. The Eurozone continues to struggle form crisis to crisis and on top of this there is the conflict in the middle East.

Anyway, there is no point speculating for too long because in a few hours time we will know for certain.