Budget: Tax cuts or more austerity?

George Osborne's under pressure to get this budget right Photo: Lewis Whyld/PA Wire

This lunchtime George Osborne will deliver his Budget. He doesn't have much room to manoeuvre, money is tight and there is a lot of political pressure on the Chancellor to get it right.

So what can we expect?

There's set to be more austerity, the chancellor is said to be looking for a further £2.5 billion of cuts. But some of those savings could be spent on infrastructure projects, maybe on roads and housing in our region could get a boost.

Fuel duty

For many motorists across the East, fuel duty is their number one issue. Just last week on a vist to a training academy in Milton Keynes David Cameron was asked about the cost of fuel. The prime minister admitted that, for many, driving a car in rural areas is not a choice but a necessity. There is a planned 3p rise in fuel duty due to come in this September. Harlow MP Rob Halfon has led a concerted campaign to get the chancellor to postpone that rise or scrap it altogether.

Tax cuts?

Northampton South MP Brian Binley says the Chancellor needs to cut VAT. He says "neither the prime minister or chancellor can draw upon personal experience of running a business" and says there needs to be a VAT cut to get business going. Other Tory MPs would like to see income tax cuts.

Political pressure?

George Osborne is under pressure to get this budget right. Many Conservative MPs note that it was this time last year after the 2012 Budget that the party's opinion poll ratings dipped and they have never really recovered. Northampton South MP Brian Binley likens the Chancellor's task to "a bowler delivering the final few overs in a tight cricket match".

Keep up to date with all the budget news here.