The Budget will put "the next generation first", Chancellor George Osborne has said.
Tweeting a picture of the Budget and the famous red briefcase, he said: "Today's Budget sets out long-term solutions to long-term problems.
"It's a Budget that puts the next generation first."
Today's Budget sets out long term solutions to long term problems. It's a Budget that puts the next generation first https://t.co/ZMN6HrRN7u
The lower growth forecast for the economy means the Chancellor will have to raise taxes or make drastic cuts, the economic think-tank said.
The Budget seems to be a return to 'nudge, nudge' politics which looks at behaviour, the cost of dealing with it, and makes a calculation.
Around 20 Tory backbenchers wrote to the Chancellor, even before the Budget was delivered, to outline their concerns about the measure.