That's despite weeks of hints from the Chancellor that an increase might be needed to plug a shortfall in public finances.
It's understood she's abandoned the idea over fears it would break Labour's manifesto pledges - and may instead lower tax thresholds to raise some of the money.
Reform UK activist Tim Montgomerie says he's shocked.
IN: "This is…
OUT: ...U-turn."
DUR: 21 seconds
http://www.fsnradionews.com/feeds/1114budget-montgomerie1.mp3