Cryptic crossword clue
Budget? Chancellor’s last cut initially in the bag 5

The most common and most likely answer to this crossword clue is the 5 letter word UDDER

U
D
D
E
R


Buddy explains!

The straight part
We know that "bag" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case bag = udder.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does UDDER mean?

UDDER noun
  1. An organ formed of the mammary glands of female quadruped mammals, particularly ruminants such as cattle, goats, sheep and deer.
  2. (impolite) A woman's breast.

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