Part of Oral Answers to Questions — Budget. – in the House of Commons at on 8 May 1924.
Mr John Black
, Harborough
asked the Chancellor of the exchequer the total gross amount of national income, as ascertained by the surveyors for Income Tax, before deductions of any kind are made for the years ending April, 1923, and 1924?
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.
