Red is the new black for Caruana’s Budget briefcase

Forget the leather and gold-plated emblem – the new Budget briefcase is a nod to Malta’s British past with its burgundy case and boxy corners.

The briefcase displays the Republic of Malta’s coat of arms, with two inscriptions: on the front ‘Ministru tal-Finanzi’, and a verse from the Maltese national anthem, ‘Saħħa l-ħaddiem’ on the back.

Weighing 2.5kgs, the case is similar to such historic ‘red boxes’ as found in a number of Commonwealth countries such as Singapore. The case will be used exclusively on Budget Day.

Do I look good in red? Clyde Caruana shows off his new purchase...

There is a convention that a departing Finance Minister is given the Budget briefcase used during his tenure as a token of appreciation, which is why Caruana used his private funds for such a purchase.

Even in the United Kingdom, it is traditional to see the Chancellor of the Exchequer clutching a red box briefcase which transports the all-important financial plan.

The word Budget comes from an old French word ‘bougette’, meaning little bag – the UK House of Commons in fact explains that it was customary to bring the statement on financial policy to the House of Commons in a leather bag. The modern equivalent of the bag is the red despatch box or Budget box.

In the UK, a new box commissioned by The National Archives was used since 2011. Previously, William Gladstone’s original red Budget box from 1860 was used by every UK Chancellor until 2011.