Budget 2017: Sketch - '˜Spreadsheet Phil' shows lighter side

But there was nothing confounding about his speech, as “spreadsheet” Phil delivered a predictably cautious response to the OBR’s optimistic forecasts.

It is not unusual these days for some of the flashier announcements to get trailed in the papers ahead of the main event, and this year was no different. However, it’s rare that the key set piece – in this case the £1.2bn promised for social care – underdelivers when compared with the rumours.

The disappointment at this slightly-smaller-than-expected rabbit from the hat was compounded by the backlash to the change to National Insurance contributions. It is hardly a vote of confidence when, within minutes of the Chancellor sitting down, a Tory MP states he is in agreement with the opposition benches in his criticism of the policy.

But credit where it’s due, Big Phil did his bit to lift the mood, interspersing references to “cyclically adjusted borrowing rates” and “fiscal resilience” with the now customary budget banter. This included more than one dig at his own expense, as he pointed out the last person to unveil “the last Spring Budget” – former Tory Chancellor Norman Lamont – lost his job “10 weeks later”.

The gags played well with a few backbenchers, with Brexiteer Steve Baker describing the Chancellor as “box office” after he landed a couple of stinging jokes on Labour. It will be interesting to see if the rate of laughs is maintained, however, once Brexit becomes a reality and predictions of “turbulence” are tested.