Road Fund [Advances].

Income Tax. – in the House of Commons at on 17 September 1931.

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Resolution reported, That it is expedient to provide that advances to the Road Fund made under Section thirty-six of the Finance Act, 1931, shall be made out of moneys provided by Parliament instead of out of the Consolidated Fund.

Bill ordered to be brought in upon the said Resolutions, and upon the Resolutions reported from the Committee of Ways and Means upon the 16th day of September and agreed to by the House on that day, by the Chairman of Ways and Means, the Chancellor of the Exchequer and Major Elliot.

FINANCE (No. 2) BILL.

"to increase the Customs and Excise Duties on beer and tobacco, the Customs Duty on hydrocarbon oils, and the Entertainments Duty; to increase the standard rate of Income Tax for the year 1931–32, and the higher rates of Income Tax for the year 1930–31; to amend the Income Tax Acts in so far as they relate to certain reliefs and the tax payable by persons carrying on a trade consisting wholly or partly in dealing in securities; to amend Section thirty-six of the Finance Act, 1931, and the Law relating to the National Debt; and to make provision for certain matters connected with the matters aforesaid," presented accordingly, and read the First time; to be read a Second time upon Monday next, and to be printed. [Bill 226.]

The remaining Government Order was road, and postponed.

Chancellor of the Exchequer

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.

Customs and Excise

http://www.hmce.gov.uk/