Budget Day - United Kingdom

United Kingdom

In the United Kingdom, Budget Day is the day that the Chancellor of the Exchequer delivers the Budget, first privately to the Budget Cabinet and then publicly in a speech to the House of Commons. It is always aligned with the fiscal year, which itself in the UK is still aligned with the Julian Calendar. Nowadays, Budget Day occurs on a Wednesday in March, before the start of the new fiscal year, although in the early 20th century it was delivered in April, after the start of the fiscal year.

Chancellors have had varying opinions on Budget Day. Nigel Lawson wrote, in his memoirs, that it is "best described as an enjoyable ordeal". Harold Macmillan, in explaining his surprise at being appointed Chancellor, said that he thought Budget Day to be "rather like a school Speech Day: a bit of a bore, but there it is".

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