Jeremy Hunt is already getting his excuses in before the Budget

More than any other Cabinet ministers, chancellors tread in the ghostly footsteps of the No 11 inhabitants who went before them. And so, in the run-up to Wednesday’s Budget, Jeremy HuntHe even joked that he would rather be emulating the tax-slashing hero of the Tories’ 80s heyday, Nigel Lawson, but circumstances were, alas, forcing him into emulating his Labour predecessor instead.

A selective and disciplined communicator, Hunt has talked frequently about being a low-tax Conservative with a fundamental belief that lighter taxation creates and sustains business and innovation.

For others, the whole approach amounts to a political miscalculation. “So bloody tired of Jeremy saying he is really the new Nigel Lawson, just not yet and at some point – and maybe never,” texts one irate donor. The projected £30bn spending pot that was available in November turned out to be a lucky moment. The OBR’s estimates give him a skinnier £12.5bn to dispose of, amid clamour in the party for a cut of 1p in the pound in income tax and similar in NI contributions.hit two different audiences . Arithmetically, it is a stretch – let alone the wilder hopes of more swinging tax cuts. Even the “penny in the pound” headline cut would cost some £7bn and NI cuts over half of that.

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