Newspaper review: Budget widely anticipated in papers
The Budget is previewed on nearly all of Wednesday's front pages.
However, the paper believes this will be difficult unless inflation is checked and calls for the Bank of England to raise interest rates.
The Guardian believes the current economic climate suggests Mr Osborne's predecessor - Alistair Darling - had been right to argue for a slower programme to reduce the deficit.
The Daily Mirror says there has been an "inflation disaster" and accuses Mr Osborne of planning to hand out a "tax bribe" to try to distract attention.
"Minister admits there is no Libya exit strategy" is its headline, seizing on remarks made by the armed forces minister, Nick Harvey.
And the Financial Times warns of trouble ahead for Portugal which could have a knock-on effect on the Euro.
The minority Socialist government may have to resign, triggering a snap election and an international financial rescue.
The bodyguards have "sworn an oath to die" protecting him, it reports.
It says the defender made a "defiant return" in which he said he should never have lost his job and urges any unhappy teammates to come forward.