Oral Answers to Questions — Unemployment. – in the House of Commons at on 16 July 1925.
Major Guy Kindersley
, Hitchin
asked the Chancellor of the exchequer (1) what was the total amount of revenue for 1924-25 applicable to meeting the charge for interest on the Turkish Four Per Cent. Guaranteed Loan of 1855; and was there any surplus remaining after meeting such interest; and, if so, how much did the surplus amount to;
(2) if he will give a list of the securities amounting to £642,400 nominal, representing the investment of the accumulated surplus which has arisen from the funds allotted to the payment of the interest on the Turkish Guaranteed Loan of 1855?
Mr Winston Churchill
, Epping
The contributions received in 1924–25 were insufficient to cover the interest on the guaranteed loan; the remainder of the question does not therefore arise. I do not think it is desirable to state, in what precise securities the, past surpluses are invested.
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.
