Oral Answers to Questions — Local Government Bill and Rating. – in the House of Commons at on 14 February 1929.
Sir Nicholas Grattan-Doyle
, Newcastle upon Tyne North
asked the Prime Minister whether he will make public the terms of the reply to the request of the Iron and Steel Trades Confederation for an inquiry into the condition of the iron and steel industry?
Mr Winston Churchill
, Epping
My right hon. Friend does not wish to make public the terms of his reply to the confederation until the secretary has placed it before the executive council. I understand that he will do this at a meeting of the council to be held next week.
Mr Albert Alexander
, Sheffield, Hillsborough
Are we right in assuming that the failure of the Government to go forward with the safeguarding of iron and steel is mainly due to the beneficent influence of the Chancellor of the exchequer?
Mr Winston Churchill
, Epping
That has absolutely nothing to do either with the question or my answer.
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.
