The CBI says they want George Osborne to introduce an energy package which encourages investment in generation and helps businesses struggling with high energy costs and extending the Annual Investment Allowance for smaller firms beyond 2015.

If businesses are hoping for something wonderful to be plucked out of the red box they will be disappointed. The chancellor has more than 12 months before he faces the electorate and if he is going to have a few give-aways he will hold those back for 2015. So it is likely there won’t be a cut in VAT, the slashing of fuel duty or freezing utility prices for industry. There is already a review of business rates—something industry has been crying out for help on for years.

There is hope however, with the economy finally on the up the chancellor can look forward to an increase in revenue from taxes which in turn will result in less borrowing. And that would give him a free hand to invest. Investment is what most businesses would like to see as this will lead to more work.