budget

budget

I

bud‧get¹ S1 W2 /ˈbʌdʒət, ˈbʌdʒɪt/ noun [countable]1. the money that is available to an organization or person, or a plan of how it will be spent
    budget of
    a welfare program with a budget of $2 million
    budget for
    The budget for photography has been cut.
    We had a really tight budget.
    on/within budget (=not using more money than planned)
    The project was completed within budget.
    under budget (=using less money than planned)
    If you come in under budget, everyone will be very impressed.
    over budget (=using more money than planned)
    Feature movies always run over budget.
2. on a budget if you are on a budget, you do not have much money to spend:
    Travellers on a budget might prefer to camp.
    a book which offers great ideas for decorating on a budget
    families on a tight budget
3. (also Budget) British English an official statement that a government makes about how much it intends to spend and what taxes will be necessary
     

COLLOCATIONS

■ ADJECTIVES/NOUN + budget
   ▪ an annual/monthly/weekly budget The organization has an annual budget of $24 million.
   ▪ the national/federal/state budget He has a plan to balance the federal budget.
   ▪ the defence/education etc budget We had to make cuts in the defence budget.
   ▪ the family/household budget Often the husband and wife contribute equally to the family budget.
   ▪ a big/large budget The club does not have a large budget for new players.
   ▪ a small/low/limited budget It was a project with a low budget.
   ▪ a tight budget (=small and limited) Most young people have to live within a tight budget.
   ▪ a fixed budget Our clients usually have a fixed budget.
   ▪ a shoestring budget (=a very small budget) The film had been made on a shoestring budget.
   ▪ a total budget The National Institute of Health had a total budget of $11. 3 billion.
   ▪ an overall budget (=total) There has been an increase in the overall budget made available by the Government for training.
■ verbs
   ▪ have a budget Hospital caterers have a budget of about £20 per person per week.
   ▪ overspend your budget The Metropolitan Police has overspent its budget by £70 million.
   ▪ keep within a budget (=spend only the money that is available) Further cuts are needed in order to keep within the budget.
   ▪ balance the budget (=spend only the money that is available) the importance of balancing the budget and cutting taxes
■ budget + NOUN
   ▪ a budget deficit (=when a government has spent more money than it has) The country has a budget deficit of over $4 billion.
   ▪ a budget surplus (=when a government has more money than it spends ) A huge budget surplus of over £16 billion was recorded.
   ▪ budget cuts (=reductions in the amount of money that is available) The department has suffered severe budget cuts.

II

budget² verb [intransitive and transitive]
1. to carefully plan and control how much money you spend and what you will buy with it:
    We’ll have to budget more carefully.
    This scheme enables you to budget the cost through fixed monthly payments.
    budget for
    We’ve budgeted for a new car next year.
2. if you budget something such as time, you decide how much of it you will need
—budgeting noun [uncountable]

III

budget³ adjective [only before noun]
1. very low in price – often used in advertisements
   SYN  cheap:
    budget flights
2. low-budget/big-budget used for saying how much money has been spent on doing something, especially making a film:
    low-budget movies
     

THESAURUS

   ▪ cheap costing very little money, or less than you expected: My shoes were really cheap – they only cost £25. | The cheapest way to get to Chicago is to take the bus. | cheap flights
   ▪ low low prices, rents, and fees do not cost a lot of money. Do not use cheap with these words: Why is the share price so low? | You could get equally good accommodation elsewhere at a lower rent.
   ▪ inexpensive especially written not expensive – use this especially about things that are of good quality, even though they do not cost a lot: The furniture is inexpensive, but well made. | a simple inexpensive meal | a hotel that offers air-conditioned rooms at relatively inexpensive prices
   ▪ reasonable a reasonable price seems fair because it is not too high: The restaurant serves good food at reasonable prices. | Only £25 a night? That sounds reasonable.
   ▪ economical cheap because you do not need to use a lot of money or fuel: an economical car | It is usually more economical to buy in large quantities.
   ▪ affordable cheap enough for most people to be able to buy or pay for: affordable housing | Single mothers often have trouble finding affordable childcare. | The shop sells designer fashions at affordable prices.
   ▪ competitive competitive prices and rates are as low as those charged by other shops or companies: I think you’ll find our prices are extremely competitive. | The hotel offers a high standard of service at very competitive rates.
   ▪ budget [only before noun] budget flights, airlines, hotels etc have specially low prices: You can get a budget flight to Amsterdam for only £19. | a list of budget hotels for under $50 a night | budget accommodation for families with young children
   ▪ be good/great value to be worth at least the price you pay for it, so that you feel pleased and think you have spent your money well: The meals at Charlie’s Pizza are really good value. | The holiday is great value for money.
   ▪ be a bargain informal to be extremely cheap: I got this shirt when I was in Indonesia. It was a real bargain.

Budget
Budget, the
in the UK, a plan for how the government will collect all the money it needs, which is announced each year by the Chancellor of the Exchequer (=the minister in charge of financial matters). The Chancellor is always shown going to Parliament carrying a special red case that contains the Budget speech. The speech is broadcast on television and radio, and most people take an interest in the effects of the Budget on taxes and on the price of things like petrol, alcohol, and cigarettes.