The budget contained some good measures. Mr Osborne pencilled in further rises to the minimum income-tax threshold, which will have the effect of cutting almost everyone's tax bills. He pulled a sensible U-turn by trimming the extortionate levies he had imposed on North Sea oil-and-gas production in 2011--taxes that have helped drive investors away. There was some bold liberal stuff on pensions. In a commendable bit of decentralisation, some English cities are to be allowed to retain a bigger share of local business taxes.