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Amendment of Law.

Orders of the Day — Ways and Means. – in the House of Commons at on 12 May 1924.

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Resolution reported, That it is expedient to amend the Law relating to the National Debt, Customs, and Inland Revenue (including Excise), and to make further provision in connection with Finance.

Bill ordered to be brought in upon the said Resolutions and upon the Resolutions reported from the Committee of Ways and Means upon the 6th day of May, and agreed to by the House upon that day, by the Chairman of Ways and Means, Mr. Chancellor of the Exchequer, and Mr. William Graham.

Amendment

As a bill passes through Parliament, MPs and peers may suggest amendments - or changes - which they believe will improve the quality of the legislation.

Many hundreds of amendments are proposed by members to major bills as they pass through committee stage, report stage and third reading in both Houses of Parliament.

In the end only a handful of amendments will be incorporated into any bill.

The Speaker - or the chairman in the case of standing committees - has the power to select which amendments should be debated.

Chancellor of the Exchequer

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.