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Wednesday 27 October 2021 10:00 am  |  Updated:  Wednesday 27 October 2021 10:49 am

Opinion-in-brief: Budget traditions are traditions for a reason

By: Eliot Wilson

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UK Hosts First Global Investment Summit
LONDON, ENGLAND - OCTOBER 19: Chancellor of the Exchequer Rishi Sunak arrives at the Science Museum on October 19, 2021 in London, England. The summit brought together British politicians, royalty, CEOs of the world's biggest banks and other business leaders with the aim of highlighting how the UK is "using investment to cement itself as a science and tech superpower, and a pioneer of green technology ahead of COP26," according to the country's international trade secretary. (Photo by Rob Pinney/Getty Images)

Budgets are supposed to be secret. Apart from launch codes and special forces, they’re the most confidential part of government.

In 1947, the Labour chancellor, Hugh Dalton, had to resign because he let slip a detail of his budget on his way into the chamber.

They’re not just secret from the public. By tradition, the details of the Budget are revealed to the cabinet by the chancellor on the morning of the speech; strictly embargoed copies go to the deputy speaker of the Commons minutes before the chancellor stands up.

Rishi Sunak has ripped that form book to shreds. There will be few surprises in the Budget, and all of the details have already been spun, finessed, polished and countered.

They have simply been absorbed into the never-ending maelstrom of communications wars. It’s a shame: privileges of the Commons aside, a bit of theatre and surprise does us no harm. And it makes journalists work for their modest pay.

Read more

Stamp duty on shares is ‘biggest handbrake’ says UK bank chief

LSEG logo on a large screen inside a modern building with stock tickers and glass ceilings.

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