I have always maintained that what makes a good budget is not how it is reported in the media in the first 24 hours but how it is viewed after the analysts and experts have had chance to study the small print. I think that this years budget will be regarded as being the right mix of carefully targeted measures designed to boost private sector growth combined with the economic imperative of ensuring the budget deficit is one day eliminated.

Motorists will be glad that for the first time I can remember the price of petrol following the budget has gone down instead of up.

Those who complain about the complexity of our tax code will be pleased that swathes of complex rules and regulations are to be abolished.

The long term plan to merge tax and national insurance contributions is the first step on what I guess will be a long road which will really start to reduce the size and complexity of the tax system and ultimately make it easier for employers to employ people.