Oral Answers to Questions — Unemployment. – in the House of Commons at on 24 July 1934.
Mr Herbert Samuel
, Darwen
asked the Chancellor of the exchequer the classes of persons in the service of the Crown or local authorities the amount of whose pensions will be diminished through the fact that their pensions are assessed on rates of salaries which will have been affected by the temporary cuts in salaries or grants made by Parliament in 1931?
Mr Neville Chamberlain
, Birmingham, Edgbaston
As the answer to this question is a long one, I propose, with the right hon. Member's permission, to circulate it in the OFFICIAL REPORT.
The main classes in question are as follow:
I should add, as regards civil servants and others whose pay was subject to periodical variation by reference to the cost-of-living figure, that their pensions have been calculated as from 1st July, 1931, on the basis of a cost-of-living figure of 50 in accordance with the provisions of Treasury Minute dated 20th March, 1922 (House of Commons Paper 55 of 1922). The figure of 50 for calculation of pensions was fixed in June, 1931, not as part of the emergency measures in the autumn of 1931.
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.
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