The splash story of the FT centres on a fresh poll showing challenges facing US President Joe Biden as his re-election campaign gears up. Americans are increasingly happy about the economy but reluctant to give credit to Joe Biden, according to a new poll.

The lead for the London business newspaper CITY AM, reports that the UK economy is set to take its first steps out of recession this week with GDP figures for January expected to show a return to growth.

Official revised growth figures show Japan has avoided falling into a technical recession. The new data shows GDP was 0.4% higher in the last three months of 2023 compared to a year earlier. 

The chancellor’s “squeeze” on local councils leads the Financial Times, as the paper reports Jeremy Hunt has “wound down” a scheme providing millions of pounds for social housing.

Wednesday’s budget will be one of the last set pieces the Tories have to win back the British public ahead of the general election. Yet Hunt’s approach shows the difficult balance he must strike between the desires of the electorate, the fiscal realities and the backbenchers nervously looking at their own majorities

It is the last scheduled Budget before the next general election – expected in the second half of the year.