After the Tories secured an unexpected majority at the General Election, George Osborne called an emergency Budget for the 8th July.

It will be his first outside of a coalition and there has been a lot of speculation as to what will be inside his red box.

Lobby journalist Tony Grew tells Rob Comba what he thinks will be in it.

We ask Tony:

Why exactly has he called the Budget now?

Tony says it’s happening because they don’t have any of the restrictions of a Lib Dem partner, so they can move away from the shackled they had on them during the previous Budget in March.

Osborne has been talking a lot about finding £12bn worth of savings to welfare. Will he be using this to announce how he’s going to fund those?

According to Tony that’s what we’re expecting. He says Iain Duncan-Smith and George Osborne have been in negotiations over the nature of the cuts already.

What will be the major headlines?

According to Tony, one of the major headlines will likely be lowering the top level of income tax from 45p to 40p.

Won’t the opposition pounce on that?

Tony says they will, but they’re in a difficult position themselves because of the disarray the party’s in.

What will the public think of the Budget?

Tony says the Tories need to be careful. They need to be sensitive to the fact they could be seen as ‘friends of the rich’, whilst not helping the poorest in society.