Midlands MPs have high hopes for the budget

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Chancellor of the Exchequer George Osborne holds up his ministerial red box in 2011 Credit: PA

Midlands MPs have high hopes for the budget, but they are also well aware that the Chancellor George Osborne prefers the phrase "Steady as she goes" to give aways.

There will be an increase in personal allowances; the basic amount could top £9000 but he will anger some by cutting the higher rate paid in tax for those earning more than £150,000 from 50p to 45p.

Midlands businesses may face disappointment regarding their wish for a cut in employers national insurance.

The chancellor will insist there are other measures to incentivise growth in his third budget since the coalition came to power.

Thousands of public sector workers in the region have lost their jobs since then - those who have kept their jobs are having tough times with cuts to working and child tax credits.

All eyes will be on Mr Osborne at lunchtime - he has a tough day ahead.