BUDGET

A bag or sack with its contents; hence, a stock or store; an accumulation; as, a budget of inventions.

The annual financial statement which the British chancellor of the exchequer makes in the House of Commons. It comprehends a general view of the finances of the country, with the proposed plan of taxation for the ensuing year. The term is sometimes applied to a similar statement in other countries. To open the budget, to lay before a legislative body the financial estimates and plans of the executive government.