Test your Budget knowledge with our Budget 2018 quiz.

If you want a hint, ‘jobs’, “growth” and “families” are definitely not the answer to any of the questions, no matter how many times you say those words.

Budget trivia – how much do you know?

Q1. Approximately how long did Scott Morrison’s 2018 Budget speech last for?

Q2. Which House of Parliament sets the Budget?

Q3. Can parliamentarians drink alcohol during the Budget?

Q4. Where does the word Budget come from?

Q5. Australia has had how many Prime Ministers since Federation?

Q6. How many Prime Ministers also held the role of Australian Treasurer at some stage in their career can you name?

Q7. How many Australian Treasurers can you name?

 

 

Have a think about it and then read on …

 

Q1. Approximately how long did Scott Morrison’s Budget speech last for?

Scott Morrison’s speech lasted for approximately 30 minutes (7:30pm to 8:00pm)

Count yourself lucky. If you tuned in at 7:30pm on ABC for Treasurer Morrison’s 30 minute speech then spare a thought for British parliamentarians in 1853.  They had to sit through William Gladstone’s 4 hour and 45 minute budget speech, the longest ever.  Perhaps he sought to outdo his rival, Benjamin Disraeli who in 1852 lasted 5 hours (but he took a break in between his brandy & waters!).

 

Q2. Which House of Parliament sets the Budget?

Only the House of Representatives can set the Budget. Only the House of Representatives can decide what charges may be made “of the people, by the people and for the people” (Abraham Lincoln). It is a basic constitutional principle that only the people’s elected representatives can have any say in what taxes should be imposed upon them.  While the Senate (Keating’s “unrepresentative swill”) can block Budget measures (as happened in 2014) it cannot set its own Budget measures.  Our head of state (has anyone truly worked out yet if it’s the Queen or the Governor General?  Because we’re still confused) has no say in Budget measures.

 

Q3. Can parliamentarians drink alcohol during the Budget?

We can’t find a rule that says that parliamentarians can’t drink during the Budget, but we assume they don’t all do it.

In the UK, by tradition the Budget is the only occasion a Member of Parliament can have a stiff drink while speaking in Parliament (alcohol is otherwise banned under parliamentary rules). While the last three British Chancellors have boringly opted for water, previous Chancellors have enjoyed whisky (Ken Clarke), a G&T (Geoffrey Howe, who sadly named his dog Budget), a brandy (Churchill in the 1920s) and sherry and beaten egg (Gladstone – maybe that’s why his speech took so long).

Perhaps this is one British custom we could have retained in Australia to our amusement. Can you imagine Paul Keating or Peter Costello on song in full attack mode after a double Bundy & coke or two? Then again, we assume Keating would more likely prefer a rare, aged French cognac.

Or John Howard as Treasurer back in the day drinking a…. nope, we can’t imagine him drinking at all. We could imagine Scott Morrison with a beer or two.

This is one tradition I believe there should be a groundswell of voter support to reinstate (perhaps then bringing into play the Kevin Rudd defense of “I was too drunk to remember” when all those election promises are invariably broken).

 

Q4. Where does the word Budget come from?

‘Budget’ derives from the Middle English ‘bowgette’, which came from Middle French ‘bougette’, which in turn is a diminutive of ‘bouge’, a leather bag.

In 18th century England the plans of public expenditure (the statements or schedules of accounts) were carried into Parliament in the leather bag called the budget. Over time, the term ‘budget’ began to refer to the contents of the bag rather than the bag itself.

In 1733, British Prime Minister and Chancellor of the Exchequer, Sir Robert Walpole was depicted satirically as a quack doctor opening his bag (or budget) of pills and potions. Some things never change!

 

Q5. Australia has had how many Prime Ministers since Federation?

Australia has had 29 Prime Ministers since Federation. We list them all below.

NumberPrime MinisterPartyFromToDuration
1Barton, EdmundProtJan-01Sep-032 years, 8 months, 24 days
2Deakin, AlfredProtSep-03Apr-047 months, 4 days
3Watson, John ChristianALPApr-04Aug-043 months, 21 days
4Reid, George HoustonFTAug-04Jul-0510 months, 18 days
Deakin, AlfredProtJul-05Nov-083 years, 4 months, 9 days
5Fisher, AndrewALPNov-08Jun-096 months, 21 days
Deakin, AlfredLibJun-09Apr-1010 months, 28 days
Fisher, AndrewALPApr-10Jun-133 years, 1 month, 26 days
6Cook, JosephLibJun-13Sep-141 year, 2 months, 25 days
Fisher, AndrewALPSep-14Oct-151 year, 1 month, 11 days
7Hughes, William MorrisALPOct-15Feb-237 years, 3 months, 14 days
8Bruce, Stanley MelbourneNatFeb-23Oct-296 years, 8 months, 14 days
9Scullin, James HenryALPOct-29Jan-322 years, 2 months, 16 days
10Lyons, Joseph AloysiusUAPJan-32Apr-397 years, 3 months, 2 days
11Page, Earle ChristmasCPApr-39Apr-3920 days
12Menzies, Robert GordonUAPApr-39Aug-412 years, 4 months, 4 days
13Fadden, Arthur WilliamCPAug-41Oct-411 month, 9 days
14Curtin, JohnALPOct-41Jul-453 years, 8 months, 29 days
15Forde, Francis MichaelALPJul-45Jul-458 days
16Chifley, Joseph BenedictALPJul-45Dec-494 years, 5 months, 7 days
Menzies, Robert GordonLibDec-49Jan-6616 years, 1 month, 8 days
17Holt, Harold EdwardLibJan-66Dec-671 year, 10 months, 23 days
18McEwen, JohnCPDec-67Jan-6823 days
19Gorton, John GreyLibJan-68Mar-713 years, 2 months
20McMahon, WilliamLibMar-71Dec-721 year, 8 months, 25 days
21Whitlam, Edward GoughALPDec-72Nov-752 years, 11 months, 7 days
22Fraser, John MalcolmLibNov-75Mar-837 years, 4 months
23Hawke, Robert James LeeALPMar-83Dec-918 years, 9 months, 9 days
24Keating, Paul JohnALPDec-91Mar-964 years, 2 months, 20 days
25Howard, John WinstonLibMar-96Dec-0711 years, 8 months, 22 days
26Rudd, Kevin MichaelALPDec-07Jun-102 years, 6 months, 21 days
27Gillard, Julia EileenALPJun-10Jun-133 years, 3 days
Rudd, Kevin MichaelALPJun-13Sep-132 months, 22 days
28Abbott, Anthony JohnLibSep-13Sept-152 years
29Turnbull, Malcolm BlighLibSept-15

 

 

Q6. How many Prime Ministers also held the role of Australian Treasurer at some stage in their career can you name?

16 out of the 29 Prime Ministers (55%) also held the role of Treasurer at some stage in their career. We list them all below.

1Chris Watson9Arthur Fadden
2Andrew Fisher10Ben Chifley
3Joseph Cook11Harold Holt
4Stanley Bruce12William McMahon
5Earle Page13Gough Whitlam
6James Scullin14John Howard
7Joseph Lyons15Paul Keating
8Robert Menzies16Bob Hawke

 

Q7. How many Australian Treasurers can you name?

We list the Australian Treasurers prior to Scott Morrison below.

Australian Treasurers since Federation
YearTreasurerYearTreasurer
1901–1904George Turner1940Percy Spender
1904Chris Watson1940–1941Arthur Fadden
1904–1905George Turner1941–1949Ben Chifley
1905–1907John Forrest1949–1958Arthur Fadden
1907–1908William Lyne1958–1966Harold Holt
1908–1909Andrew Fisher1966–1969William McMahon
1909–1910John Forrest1969–1971Leslie Bury
1910–1913Andrew Fisher1971–1972Billy Snedden
1913–1914John Forrest1972Gough Whitlam
1914–1915Andrew Fisher1972–1974Frank Crean
1915–1916William Higgs1974–1975Jim Cairns
1916–1917Alexander Poynton1975Bill Hayden
1917–1918John Forrest1975–1977Phillip Lynch
1918–1920William Watt1977–1983John Howard
1920–1921Joseph Cook1983–1991Paul Keating
1921–1923Stanley Bruce1991Bob Hawke
1923–1929Earle Page1991John Kerin
1929–1930Ted Theodore1991Ralph Willis
1930–1931James Scullin1991–1993John Dawkins
1931–1932Ted Theodore1993–1996Ralph Willis
1932–1935Joseph Lyons1996–2007Peter Costello
1935–1939Richard Casey2007–2013Wayne Swan
1939–1940Robert Menzies2013Chris Bowen
2013-2015Joe Hockey

 

We hope you enjoyed our Budget Trivia – we always aim to make finance more interesting for our clients.

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