Part of the debate – in the House of Commons at on 11 September 1931.
Mr John Llewellin
, Uxbridge
(by Private Notice) asked the Chancellor of the exchequer what is the position pending the passing of the Finance Act as regards the deduction of Income Tax from mortgage interest and ground rents, and from dividends and interest of British companies, or of Dominion and foreign companies paid through agents in this country?
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.
