The Budget: As it happens
The politics of the Budget is already clear.
Government is a "force for good" and "should not stand aside'" the chancellor says.
He is unveiling a $2.5bn one-off "growth package" and what he calls help for those who need it - the stamp duty cut for first time buyers and, I predict, an increase in the winter fuel allowance too.
All of which he will, no doubt, claim would have to be scrapped by the Tories who - he will suggest - are ideologically committee to cutting back the size of government now.
Update 12:59: The chancellor has confirmed that he has pinched George Osborne's proposal to scrap stamp duty for first time buyers but there was a sting in the tail for the Tories.
He says he'll pay for it by increasing the cost of moving for the rich by increasing stamp duty on houses worth over a million. No doubt someone in the Labour Party will soon be calling it the Notting Hill tax.
He had to say something about how he's paying for it since in October 2007 the chancellor condemned the "irresponsible promises on tax" the Tories made when they first proposed it.
Update 13:05: Next in the chancellor's list of election dividing lines is a promise of money for social care paid - as yet unspecified - by increasing inheritance tax (by freezing thresholds for four years).
The theme is clear - help for the many versus help for the few.
Update 13:08: The biggest rabbit the chancellor has pulled from his Budget hat is lower than expected borrowing next year. It's forecast to be £13bn less than predicted in the pre-Budget report. His message to the country is "don't worry we're sorting out the deficit".
Update 13:30: Pursuing his "many not the few" theme the chancellor has just delighted Labour MPs by announcing a tax agreement with Belize to target Tory billionaire donor Lord Ashcroft.