Part of Oral Answers to Questions — National Finance. – in the House of Commons at on 30 January 1940.
Sir William Boulton
, Sheffield Central
asked the Chancellor of the exchequer whether he is in a position to make any further statement regarding insurance of property against war damage; and whether he has favourably considered the proposals made by the chambers of commerce?
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.
