At 12.30pm, Mr Osborne is expected to give his speech to MPs in the House of Commons.
This will be Mr Osborne's third Budget since taking over the role of Chancellor of the Exchequer in 2010.
Potential changes include income tax and the personal allowance, a reduction in income tax from 50 per cent tax to 45 per cent tax for those earning over £150,000, a rise in State Pension by 2.5 per cent and an increase in the Isa limit to £11,520.
Commentators from business and financial organisations have been giving their predictions for what will be announced.
The Confederation of British Industry is expecting the Budget to help businesses by making Britain more competitive. This would involve introducing a capital allowance for infrastructure spending, capping business rates at two per cent and removing Stamp Duty on shares listed on AIM. It would involve more focus on tax avoidance.
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Katja Hall, CBI chief policy director, said: "With news of the loss of our AAA rating, it is crucial this budget injects confidence, while delivering investment and growth. Although the Chancellor has limited room for manoeuvre, there are some things he can do that will pack a punch."
The British Bankers' Association focused on the increase in Isa allowance to £11,520 and the possibility of smaller quote companies being valid for stocks and shares Isas. It also predicted scrapping the division between cash and stocks and shares Isa.
Anthony Browne, chief executive of the BBA, said: "Changing the Isa limit for savers would encourage bank customers to make greater use of the these tax-efficient accounts. And changing equity Isa rules to allow investment in smaller quoted companies improves both choice for customers and opportunities for growing businesses.
"Taken together, the measures we propose would contribute to fuelling the economic recovery- helping our customers and promoting growth."

• Financial Planner Online will be covering the Budget extensively today with coverage of the announcements on the day and all the post-Budget reaction from our Budget panel. It will be also be tweeting on the day via our feed @FPM_Online.