– in the House of Commons at on 29 March 1939.
Mr Reginald Fletcher
, Nuneaton
asked the Chancellor of the exchequer whether he proposes to extend the embargo on transfers out of Czecho-Slovakian bank balances to cover sales of Czecho-Slovakian bonds on foreign account?
Captain Euan Wallace
, Hornsey
This suggestion has been considered, but in view of the complications and delays necessarily involved by any measure of this kind, it was decided not to adopt it.
Mr Reginald Fletcher
, Nuneaton
May I ask the right hon. Gentleman whether the possibility has been considered of the German Government coming into the possession of British currency through transactions in these bonds?
Captain Euan Wallace
, Hornsey
Yes, Sir, that has been considered, but for the reasons I have stated, it was decided not to adopt them.
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.
