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Behind the scenes on Budget day
OF COURSE, Wednesday was Budget day.
Rather than covering the content of Alistair Darling's speech – there will be acres of analysis elsewhere – I thought readers might be interested in a few facts about the occasion, and the history and traditions that surround it.
I have lived and breathed many of these – as a participant when I was Financial Secretary to the Treasury in the early 1990s, and then again as Shadow Chancellor at the end of the decade.
The Budget is the main annual occasion when the Chancellor of the Exchequer sets out to the House of Commons the principal economic and financial forecasts, the balance of taxation, borrowing and spending, and the detail of tax changes.
The word 'budget' has interesting origins – it comes from the ancient French 'bougette' which means 'little bag'. Back in 1733, Sir Robert Walpole, who had combined being both Chancellor and Prime Minister, was featured in a cartoon as a quack doctor opening a little bag of pills. From then on the term was used to refer to the Chancellor's annual financial statement.
The title of Chancellor of the Exchequer is derived from the table – or exchequer – that was used as far back as the Norman period to count money collected for the King – it was covered in a chequered cloth to make counting easier.
The Budget often conjures up images of past Chancellors standing outside Number 11, holding aloft the case that contained their speech. For over a century, Chancellors continued to use the box crafted for William Gladstone in 1860. Lined with black satin and covered in red leather, it became rather battered over the decades.
In 1997 Gordon Brown used a new box made by apprentices from his constituency but Alistair Darling has since chosen to retrieve Gladstone's box from its display case in the Treasury. A pity he didn't also retrieve Gladstone's legendary spirit of rigid and orthodox economy!
Gladstone holds the record for the longest Budget speech – a staggering four hours and 45 minutes, back in 1853. Pitt the Younger used to make Budget Statements several hours in length without using a text – or even notes.
The Budget is the only occasion when you can drink alcohol in the Commons chamber. Brown and Darling chose mineral and tap water respectively but others have been more adventurous, with Disraeli favouring brandy and water, Geoffrey Howe choosing a gin and tonic and Ken Clarke settling for whisky.
Gladstone's prowess at the Budget day despatch box may well have been down to his tipple-of-choice – a very fortifying sherry and beaten egg! Lots of people will have felt they needed a pretty stiff drink after this week's event!
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Thursday 09 February 2012
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