Oral Answers to Questions — Unemployment. – in the House of Commons at on 16 July 1925.
Mr Alexander Livingstone
, Ross and Cromarty
asked the Chancellor of the exchequer what charges will fall on the Budget of 1926-27 in respect of the Exchequer contribution to unemployment insurance?
Mr Winston Churchill
, Epping
The estimated Exchequer contribution to the Unemployment Fund for the current year is £13,105,000. The additional charges to be incurred in 1926–27 are dependent on the decisions taken on the Bill now before Parliament and the course of unemployment, as to which I would refer the hon. Member to the Report of the Government Actuary on the Bill.
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.
