Oral Answers to Questions — Unemployment. – in the House of Commons at on 4 March 1935.
Mr John Banfield
, Wednesbury
asked the Chancellor of the exchequer the amount of the profits of the brewing trade as returned to the Income Tax authorities less allowances for wear and tear, and including all profits arising from any trade or activity ancillary to the main business for the accounting year 1933–34?
Mr Duff Cooper
, Westminster St George's
The profits of brewing concerns for accounting years ended in the Income Tax year 1933–34 are estimated at about £18,000,000, after allowance for wear and tear of plant and machinery and including all ancillary profits.
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.
