Osborne: UK Budget to Focus On Low Income Earners

Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets, told CNBC, "I think there is not too much room for manoeuvre but I think the big question is also on the corporate side because we are all talking about the banking sector but there is not too much demand from the corporate side either, and when I talk to CEOs and company leaders they tell me two things, first of all we know the environment is going to get tougher but let us know what the rules are and don't change them all the time, and secondly do something about the employment market."