Budget, the BrE AmE
in the UK, a plan for how the government will collect all the money it needs, which is announced each year by the ↑ Chancellor of the Exchequer (=the minister in charge of financial matters) . The Chancellor is always shown going to Parliament carrying a special red case that contains the Budget speech. The speech is broadcast on television and radio, and most people take an interest in the effects of the Budget on taxes and on the price of things like petrol, alcohol, and cigarettes.