These forecasts are notoriously difficult to get right.

These days there is so much information in advance of the Budget, much of it mis-information, which could be entitled 'guess-work'.

Join us for live coverage of the budget from 12.30pm

It used to be so different. In the not so distant past, Budgets were a tightly kept secret. One Chancellor, Hugh Dalton, was sacked for an indiscreet reference to one of his plans, while walking through the press lobby, on his way to deliver the Budget Speech. The House of Commons would be packed, with some members, such as Sir Gerald Nabarro and Sir Leo Abse, wearing special waistcoats, to celebrate the day.

More recently, in last year’s Autumn Statement, Phillip Hammond announced that it would also be his last Autumn Statement. From now on there would be a Spring Statement and in the Autumn, there would be the “Annual” Budget. Still clear?

Anyway, on Wednesday we are to hear the Spring Statement.

There is a problem with forecasting… they nearly always get it wrong.

Everyone from the Institute for Fiscal Studies to the IMF gets it wrong.

At the time of the European referendum, their forecasts for growth for 2016 were completely wrong, as were their forecast for 2017. Of course, none of them forecast the result of the vote either, nor the Victory of Donald Trump.

So, just for a moment, pity the Chancellor, surrounded by unreliable evidence. He has the job of piloting the country through the changes that will inevitably happen.

Let me put my head on the block and predict that there will be an increase in interest rates this year, starting in the USA. This will be followed by increases in the UK. If I get it wrong, just think, I’m still a better forecaster than Mark Carney, The Governor of the Bank of England!

I predict that there will be in increase in duty on tobacco and alcohol.

I also think that fuel duty will be increased.

I don’t think that much will be done on taxation and National Insurance rates.

The whole area needs radical reform and I suspect Phillip isn’t the one to tackle it.

The nonsense of NI not being called a tax, must one day be sorted out. After all, if it looks like a tax and quacks like a tax, then it probably is a tax.

It seems likely that the whole business of business rates will be addressed. Probably with some interim relief, at this stage, followed by root and branch reform later on. It is iniquitous that a small retail premises suffer this tax while not making any profits. It dates from Tudor times and has had its day.

Business taxes in general will, I suspect, have to await the Brexit negotiations, as establishing a really strong commercial sector will be part of the grand plan.

Of course, if this coming series of announcements really are 'only' the Spring Statement, then we shall have to wait until the autumn, to hear the real news.

I wish Phillip the best of luck… we all need for him to get it right.