The next General Election will be held in just over two years which means major changes may take too long to achieve the desired effect.
In addition, any changes will need to be balanced with a need to tackle the structured deficit and keep Britain "open for business".
The firm suggested the most likely changes that the Chancellor would make were a reduction in corporation tax to 20 per cent, new council tax bands for high value properties and increasing the tax-free allowance beyond £10,000.
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In its Budget 2013 forecast, the firm said: "Our expectation is for a fairly neutral budget, notwithstanding the current pressure building for this to be a Budget for growth.
"Our hope is that the Chancellor will minimise piecemeal changes and instead carve out a plan for supply-side reform. This would involve reducing the burden of business regulation, significant simplification of the tax system and measures to reduce barriers to employment."
Nick Jones, global director of PwC's public sector research centre, said the Government should use the Budget to give consumers some optimism.
He said: "The familiar talk of austerity and cuts needs to switch: what businesses and the squeezed consumer need now is a story of hope, not more of the same. Now is the time to inject some optimism into the national story.
"The Budget presents the ideal opportunity to deal with uncertainty by laying out a path to prosperity, turn back the tide of pessimism and start the process of re-building the confidence needed to unlock the unrealised growth potential of business in the UK."

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