Budget 2008

12 March 2008

Chancellor Alistair Darling has delivered his first Budget speech to the House of Commons.

The Chancellor told MPs that the Government's action to support Northern Rock and protect depositors and savers meant that confidence and stability in the banking system had been maintained.

Britain was now "more resilient and better prepared to deal with future shocks," he said.

• More from HM Treasury (new window)

Watch the speech again

• Watch in Windows Media Player
• Watch in Real Player
• Read the Budget speech (new window)

About the Budget

The origins of the Exchequer go back to the Norman period (1066-1154). 'Exchequer' comes from the Latin word 'scaccarium', meaning a chessboard. The word 'budget' comes from an old French word 'bougette' which meant 'little bag'.

The 'Budget box' (or 'Gladstone box' as it is sometimes called) has been used to carry the Chancellors speech from Number 11 to the House for more than a hundred years.

Image copyright: Reuters