Bill Curtin. Global head of Mergers and Acquisitions at Hogan Lovells says he is focused on the budget given that proposed tax increases in the budget are 'very worrying'. He says the budget will be a crucial confidence test for the government even if he is hopeful about M&A activity in the UK. Bloomberg anchors Caroline Hepker and Tom Mackenzie began by asking him about whether there has been any improvement in the M&A environment in the UK in the first three months of the new Labour government?