– in the House of Commons at on 4 March 1924.
Mr David Grenfell
, Gower
asked the Chancellor of the exchequer whether the Government have taken into consideration the Report of the Select Committee on Betting Duty; and, if so, whether it is proposed to impose such a duty?
Mr Philip Snowden
, Colne Valley
The Government have carefully considered the Report of the Select Committee, and after reviewing the question of imposing a betting duty in all its aspects, they have come to the conclusion that it would be against the public interest to make the changes in the law that would be involved.
The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
