– in the House of Commons at on 4 March 1924.
Colonel Sir Walter De Frece
, Ashton-under-Lyne
asked the Chancellor of the exchequer the names of the expert Commissioners who are to inquire into the best way of dealing with the burden of the National Debt?
Mr Philip Snowden
, Colne Valley
I regret that I am not yet in a position to announce the names. The constitution of the Committee is nearly complete, but as I explained previously, there has been an unavoidable delay in getting into touch with some of the persons I have invited to serve.
Mr Harry Becker
, Richmond (Surrey)
Will this Committee consider the Capital Levy as a means of reducing debt?
Mr Philip Snowden
, Colne Valley
The terms of reference to the Committee have already been announced in this House, and if they have escaped the observation of the hon. Member I shall be glad to send him a copy.
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.
