Part of Oral Answers to Questions — National Finance. – in the House of Commons at on 17 September 1931.
Mr Joseph Toole
, Salford South
asked the Chancellor of the exchequer whether he is aware that considerable sums of money are lying in British banks as unclaimed bank balances; and whether, in view of the present financial stringency, he is willing to appoint a small committee to investigate the matter with the view to all unclaimed balances being taken over by the State?
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.
