British Chancellor of the Exchequer, Gordon Brown could be forgiven a satisfied smile as he sat down after delivering his third budget last Tuesday.

Having seen market watchers and business pundits alike paint a picture of another dull offering from the dour Iron Chancellor, he could just imagine the consternation as those same critics digested the contents of a speech which was so strong on presentation as to have one writer refer to him as the consumer's "flexible friend".

It remains to be seen, of course, whether the economy can deliver on the upbeat figures forecast by the chancellor in his address and, indeed, whether any surprises lurk in the small print of the Finance Bill.

From the Irish point of view, the budget measures were not wholly welcome. Increased duty on petrol and tobacco will only help Border trade, but the widening of the gap in income tax and the narrowing of the gap on corporation tax will only increase the pressures on labour supply and IDA Ireland.