I’ve spent more years than I care to remember working in tax, often having to get the implications of the budget quickly either to the media or to the internet.  One thing that I’ve learnt is that it is only two or three days later that you work out where the worst damage is.  So we’ll see the worst through later.

Where I think that the crucial bits of the Pre Budget Review will be will be in local government and transport. There are hundreds of ways in which local government