And there are two theories on why the Budget box is red - one is that Queen Elizabeth I's representative, Francis Throckmorton, gave the Spanish ambassador a specially constructed red briefcase ...

Today marks a historic moment in British history as Rachel Reeves, the first female Chancellor, is due to deliver the Budget. She will carry the iconic red Budget box which will contain the ...

The practice of carrying a briefcase, introduced by the British, was adopted in India. In 1860, then-budget chief William E Gladstone used a red suitcase emblazoned with the Queen’s monogram ...