Oral Answers to Questions — National Finance. – in the House of Commons at on 17 September 1931.
Mr Robert Taylor
, Lincoln
asked the Chancellor of the exchequer whether he has taken or proposes to take any steps to prohibit the purchase of foreign currencies by British nationals except for bona fide trade or other approved purposes?
Mr Philip Snowden
, Colne Valley
I would refer the hon. Member to the reply which my hon. and gallant Friend the Financial Secretary gave yesterday to the hon. and gallant Gentleman the Member for Central Hull (Lieut.-Commander Kenworthy).
Mr Robert Taylor
, Lincoln
Does the right hon. Gentleman propose to take any other step than that indicated in the reply?
Mr Philip Snowden
, Colne Valley
Like the answer given to a supplementary question yesterday by my hon. and gallant Friend, I have nothing at all to add.
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.
