Budget history
The origins of the Budget go back to the Norman period, where two departments dealt with finance. The first, the Treasury, receive and paid out money on behalf of the monarch. The second, the Exchequer, had a 'lower office' which received money, and an 'upper office', concerned with regulating the Kings accounts.
The word Exchequer comes from the Latin 'scaccarium', which means chessboard. The name was given to the court because counters were moved on a square table. The word 'budget' comes from an old French word 'bougette' which means little bag.
Budget box
The original budget box is thought to have been made for Mr Gladstone, around 1860, and is known as the 'Gladstone box'. It is a wooden box, lined in black and covered in scarlet leather.
In 1965, Lord Callaghan broke with tradition and used a newer box, but later chancellors reverted back to the Gladstone box. In July 1997, the current Chancellor, Gordon Brown, used a new box for his Budget speech. He used a box made of yellow pine, with a brass handle and lock, covered in scarlet leather.
Budget speech
The longest Budget speech is thought to have been by William Gladstone on 18 April 1853, lasting four hours and forty five minutes. The shortest speech is thought to have been Benjamin Disraeli on 4 April 1867, lasting forty five minutes.
Chancellors can refresh themselves with alcoholic drink during their Budget speech. No other member may do this. However, Gordon Brown has chosen Scottish water at his Budgets so far.
The Chancellor will make a Budget broadcast to the nation on the evening of the Budget Day. The Opposition Parties have their opportunity to respond to the Budget in their own broadcasts during Budget week.
Chancellors
The historical list of British Chancellors is available on the history of tax page.
Nigel Lawson has been so far the longest serving Chancellor since the war. The longest serving Chancellor this century was Lloyd George who was in office for a total of seven years and two months between 1908 and 1915. In the nineteenth century, W E Gladstone was Chancellor for a total of 12 years and four months between 1852 and 1882.
This page was last reviewed on 03 April 2006. The information may not reflect changes in legislation made after this date.
This is only a guide to your tax position and should not be relied on in place of professional accounting or tax advice. Any calculated figures are illustrative and are based on the data you provided.
