Today saw the last outing for William Gladstone’s famous Budget box, which was made around 150 years ago for one of the most influential figures in British political history.
In fact, when he was Chancellor, Gordon Brown used a shiny new red Budget box, as opposed to the faded, battered, brown contraption on display today.
But like his predecessor Alastair Darling, George Osborne opted to use the vintage item instead.
Like the British economy, the box is falling apart at the seams. In fact it is in such a state of disrepair that the box will be permanently retired, so that it can be preserved for posterity.
So what are the differences between George Osborne’s budget and the one delivered by Gladstone a century and a half ago?
Gladstone was Chancellor of the Exchequer four times – and the budget he delivered in 1860, around the time the famous box came into use, is considered to be one of his greatest.
Like Osborne, he wanted to avoid a budget deficit, and was part of a coalition including liberals – albeit with the Whigs and Radicals, instead of the Conservative party.
However unlike the current chancellor, Gladstone had the luxury of a budget surplus of £5m, which he was widely expected to use to abolish income tax.
Instead he chose to abolish duties on paper, and decided to reduce taxation on French wines, brandy and other goods.
Perhaps Osborne had this in mind when he decided to axe the notorious scrumpy tax implemented by the previous Labour government?
Gladstone’s 1860 budget was a big success and proved a turning point for the economy.The nation waits to see if George Osborne’s maiden budget produces quite the same effect.
Richard Staines is a freelance journalist
