Part of 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?
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.
