Rachel Reeves' first budget was a historic moment — for her, for the Labour Party ... and for the nation's tax burden. So this week Westminster Insider host Sascha O'Sullivan goes back in history to find out what makes a budget truly memorable.
Historian Robert Saunders revisits William Gladstone's bumper 19th Century budget speeches, which sometimes lasted four or five hours. And he discusses the archaic traditions, begun under Gladstone, which U.K. chancellors still follow to this day.
Fellow historian David Lough explains how Winston Churchill's biggest budget decision, to rejoin the gold standard in 1925, overshadowed the future PM's ill-fated stint as chancellor — and how Churchill's own precarious finances impacted on his work at the Treasury.
Veteran journalist Andrew Marr discusses the postwar budgets of Labour Chancellor Stafford Cripps and the famous 1980s budgets of Tory grandees Geoffrey Howe and Nigel Lawson, still venerated by Tory MPs to this day.
Carolyn Quinn, BBC journalist and presenter for 36 years, takes Sascha inside the New Labour years — with a little help from Ed Balls — as well as the "omnishambles" George Osborne budget of 2012.
And outgoing Institute for Fiscal Studies boss Paul Johnson explains how the IFS became such a central part of Westminster's budget day tradition — and how his economists work through the night to keep us informed of what the chancellor has planned.
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