Oral Answers to Questions — National Finance. – in the House of Commons at on 30 January 1940.
Mr Emanuel Shinwell
, Seaham
asked the Chancellor of the exchequer whether he can give an estimate of the increase in wealth production, if the whole of the able-bodied unemployed were absorbed in industry, and what would be the total annual saving o the Exchequer; and whether the Stamp Committee and the committee over which the right hon. Gentleman presides have given this matter any consideration?
Mr John Simon
, Spen Valley
The full employment of the whole resources of the country in the war effort will increase the national income and the taxable capacity of the nation, but there are too many uncertain factors in the situation, particularly Changes in the price level, to enable any precise estimate to be formed. As regards the last part of the Question, the fuller utilisation of the nation's labour power is an integral part of the war economic problem and naturally receives continuous consideration.
Mr Emanuel Shinwell
, Seaham
How far have the committee proceeded in their investigation of this problem; and when will the Government be ready to accept the advice of the committee?
Mr John Simon
, Spen Valley
I said in answer to a previous Question that it would be wholly contrary to constitutional usage, as I am sure the hon. Gentleman realises, to try to throw the responsibility on to officials when the responsibility rests with the Government.
Mr Emanuel Shinwell
, Seaham
Does not the right hon. Gentleman appreciate that I have no desire to throw responsibility on anybody? I wanted to know whether the Government accept full responsibility and whether the Government are going to show some response to any of the recommendations made by the committee?
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.