Chancellor of the Exchequer when James Callaghan was the first chancellor to break with tradition when he used a newer box. Prior to Gladstone, a generic red Despatch Box of varying design and specification was used. The practice is said to have begun in the late 16th century, when Queen Elizabeth I's representative Francis Throckmorton presented the Spanish Ambassador, Bernardino de Mendoza, with a specially constructed red briefcase filled with black puddings. In July 1997, Gordon Brown became the second chancellor to use a new box for the Budget. Made by industrial trainees at Babcock Rosyth Defence Ltd ship and submarine dockyard in Fife,
How to Pay for the War: A Radical Plan for the Chancellor of the Exchequer John Maynard Keynes himself. How to Pay for the War: A Radical Plan for the Chancellor of the Exchequer How to Pay for the War: A Radical Plan for the Chancellor of the Exchequer is a book by John Maynard Keynes, published in 1940 by Macmillan and Co., Ltd.. It is an application of Keynesian thinking and principles to a practical economic problem and a relatively late text. Keynes died in 1946. In "How to Pay for the War", John Maynard Keynes describes a macroeconomic strategy of how Britain, a nation with a population at the time of 40 million