Part of the debate – in the House of Commons at on 16 June 1924.
Mr Fredric Wise
, Ilford
asked the Chancellor of the exchequer what is the position in regard to the non-taxation by the United States of America of ships of those countries which were willing to extend reciprocal exemption of taxation of the United States ships; and if any other countries besides ourselves have accepted it?
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.
