proposing budget

• Role of the Chancellor and Treasury
• Working out how much the executive will raise through taxation, duties, investments and loans
• Must be approved by Parliament -> public tax
• If the budget fails to pass the executive has NO funds and must by convention resign - rarely happens, they have a majorityy in HoC and HoL cannot deal with money bills
• Kwasi Kwarteng's 2022 mini budget - failed disastrously even though it was not a formal budget speech, and led to the downfall of the Truss government