Part of Oral Answers to Questions — Government Departments. – in the House of Commons at on 5 December 1939.
Mr Arthur Woodburn
, Clackmannan and Eastern
asked the Chancellor of the exchequer whether he is prepared to take further steps to prevent increments of wealth to persons or institutions during the war, arising out of all or part of excess profits, in order to minimise the sacrifices required from other sections of the community for the prosecution of the war?
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.
