Chancellor Jeremy Hunt is expected to deliver a 'Back to Work' Budget at lunchtime today when he unveils his first Budget since becoming Chancellor.

He is expected to begin his Budget in the Commons just after 12.30pm today and Financial Planning Today will bring you full coverage and analysis of what it means for the Financial Planning profession.

Mr Hunt is expected to focus on measures which get more people back to work.

With a near record 1.1m vacancies, unemployment at a historic low of 3.7% and signs that many have retired early he needs to do more to encourage people back into the workforce to get the economy moving.

Pensions are being tipped as an area where he may make it more rewarding to work for longer, or 'unretire' and return to work, and to save for retirement:

Among the expected measures is:

• Increasing the Lifetime Allowance (LTA) from just over £1m to £1.8m 

• Increasing the Money Purchase Annual Allowance from £4,000 to £10,000

• Potentially increasing the annual allowance on pension contributions from £40,000 to £60,000

Mr Hunt is also set to provide more affordable childcare and the Treasury has announced this morning an extension to energy bills support for a further three months.

Despite this, with government finances still under pressure it is believed he may have relatively little room to manoeuvre and some experts have warned that on pensions he could remove some of the benefits of pension tax relief to pay for his plans.

Mr Hunt is also under pressure to scrap or scale back a planned rise in Corporation Tax from 19% to 25% from April to help business.

• Financial Planning Today will be reporting on the Budget and key measures from 12.30pm so please check back later for updates and sign up to our newsletters to get all the stories. You can do this by registering for the website.