– in the House of Commons at on 9 October 1924.
Mr Fredric Wise
, Ilford
asked the Chancellor of the exchequer if all the Allies will participate in the £40,000,000 loan to Germany?
Mr Philip Snowden
, Colne Valley
I understand that negotiations are now being conducted by the German Government with this object. I have good hopes that the adequate participations will be secured.
Mr Philip Snowden
, Colne Valley
I do not at present know.
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.
