Has Gordon Brown delivered his last Budget? As MPs flocked out of the Commons chamber on Wednesday after another bravura performance from the chancellor, the question will have been on the minds of those on all sides of the house. Tony Blair can be reasonably confident of victory at the general election expected on May 5. So the biggest political event in Britain this year may well be how the prime minister reshapes his cabinet after polling day - and what he does with his formidable chancellor.

At 54, Mr Brown remains the big beast in Mr Blair's cabinet. After eight years at the Treasury, he is the undisputed architect of Labour's economic achievements, a chancellor who has established an economic record that is firmly at the heart of Labour's campaign for a third term. Mr Brown helped to wrest a reputation for trustworthy economic stewardship from the Conservatives - much to their annoyance. His reforms - independence for the Bank of England, the Treasury's fiscal rules, an overhaul of the welfare system - have helped deliver uninterrupted economic growth, with low interest rates, unemployment and inflation.