Oral Answers to Questions — British Army. – in the House of Commons at on 12 December 1939.
Mr Richard Stokes
, Ipswich
asked the Chancellor of the exchequer whether he will furnish the latest figures of the increase in total bank deposits since 1st August, and state as far as he is able the origin of such increase?
Mr John Simon
, Spen Valley
This information is not issued through any official agency. So far as the clearing banks are concerned, the figures are published by the banks themselves regularly in the Press.
Mr Richard Stokes
, Ipswich
Does not the Chancellor think that since Parliament has, obviously, no control over the issue of credits, it would be as well to abandon all pretence that we have really any control over the monetary system?
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.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
