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 The Budget is happening but what is it?

The Budget is happening but what is it?

Budget Day.
The current Chancellor of the Exchequer is Philip Hammond. The chancellor makes another speech, called the Autumn Statement, giving an update on the country’s spending. The Chancellor of the Exchequer is the government’s chief financial minister and as such is responsible for raising revenue through taxation or borrowing and for controlling public spending. He has overall responsibility for the work of the Treasury.