The Red Budget Box
According to information published by Parliament, the word Budget comes from an old French word ‘bougette’ meaning little bag.
It was customary to bring the statement on financial policy to the House of Commons in a leather bag. The modern equivalent of the bag is the red despatch box or Budget box.
The distinctive red Budget Box which Chancellors used to carry their speech from 11 Downing Street to the House of Commons was in use for over one hundred consecutive years.
This original wooden box was hand-crafted for William Ewart Gladstone around 1860. It was lined with black satin and covered with scarlet leather.
Lord Callaghan was the first Chancellor to break with tradition in 1965 when he used a new box.
In July 1997 Gordon Brown became the second Chancellor to use a new box for the Budget.
George Osborne used the Gladstone Box for his first Budget in 2010 but used a new box in 2011.
Traditionally the Chancellor is photographed on Budget day on the steps of 11 Downing Street, the official residence of the Chancellor of the Exchequer, holding up the Budget Box.
What is the Budget?
The Budget, or Financial Statement, is a statement made to the House of Commons by the Chancellor of the Exchequer on the nation’s finances and the Government’s proposals for changes to taxation. The Budget also includes forecasts for the economy by the Office for Budget Responsibility (OBR).
Typically, Budgets take place either in the Spring or the Autumn.
Why doesn’t the Speaker chair the Budget debate?
Traditionally, the Chairman of Ways and Means (Deputy Speaker) chairs the Budget debates rather than the Speaker.
What happens in Parliament?
The Chancellor of the Exchequer delivers the Budget statement to Members of Parliament in the House of Commons. The first part of the statement typically begins with a review of the nation’s finances and the economic situation. The statement then moves on to proposals for taxation.
Is the Budget always delivered on the same day of the week?
The Budget often takes place on a Wednesday after Prime Ministers’ Questions but apparently it can take place on any day of the week.
Longest and shortest Budget Speeches
The longest continuous Budget speech was by William Gladstone on 18th April 1853, lasting 4 hours and 45 minutes. Benjamin Disraeli’s speech in 1852 lasted 5 hours but included a break.
Benjamin Disraeli’s 1867 Budget Speech lasted only 45 Minutes.
With twelve Budget speeches, William Ewart Gladstone holds the record for delivering more Budget speeches than any other Chancellor of the Exchequer.
Dispatch boxes
Ministers are permitted to use ordinary lockable briefcases to transport information which has been classified ‘Confidential’ or below.
For information with a higher security level (such as ‘Secret’) they are required to use dispatch boxes, which offer a higher level of security, and which are usually red. However a travel version of the despatch box is also available in black, which offers the same level of security as a red despatch box, but is designed to be less conspicuous.
In practice Ministers use despatch boxes for transporting the majority of their documents due to the greater level of security they offer.
PAYadvice.UK 26/11/2025