Budget The statement which the Chancellor of the Exchequer lays before the House of Commons every
session, respecting the national income and expenditure, taxes and salaries. The word is the old French
bougette, a bag, and the present use arose from the custom of bringing to the House the papers
pertaining to these matters in a leather bag, and laying them on the table. Hence, to open the budget or
bag, i.e. to take the papers from the bag and submit them to the Hou