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Why do we have Budgets?

Everything you need to know about Budget Day, and how the Chancellor's announcements could affect your finances.

Say β€œBudget Day” and you might think of various Chancellors over the years holding up that famous red briefcase in Downing Street -- but Budgets are more than just a photo opportunity. They tell us whether we're going to be better - or worse off.

But why do we have Budgets? Will the Chancellor put up taxes? What about public sector pay?

For 5 Questions On, the ΒιΆΉΤΌΕΔ's economics correspondent, Dharshini David, explains all you need to know.

(Image: Getty/Dan Kirkwood)

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8 minutes