Oral Answers to Questions — National Finance. – in the House of Commons at on 24 May 1937.
Mr Gordon Touche
, Reigate
asked the Chancellor of the exchequer whether he can give any estimate of the number of companies and firms whose accounts may be affected by the National Defence Contribution, and of the average cost likely to be incurred by such companies and firms in ascertaining their liability to assessment?
Mr John Colville
, Midlothian and Peeblesshire Northern
It is anticipated that the number of concerns that will be liable to pay the National Defence Contribution will be in the neighbourhood of 35,00o. As regards the last part of the question the material necessary to frame an estimate is not available.
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.
