– in the House of Commons at on 20 February 1940.
Sir Geoffrey Mander
, Wolverhampton East
asked the Chancellor of the exchequer whether he has now prepared the basis of the Government's scheme for a levy on wealth created by the war; and whether a valuation during the period of the war will be necessary and is to be made?
Mr John Simon
, Spen Valley
I would refer the hon. Member to my reply to a Question on this subject given to the right hon. Member for East Edinburgh (Mr. Pethick-Lawrence) on 16th January last.
Sir Geoffrey Mander
, Wolverhampton East
In view of the fact that two valuations will be necessary, one during the war, can the Chancellor of the exchequer say what steps he is taking to carry out the first of the two valuations?
Mr John Simon
, Spen Valley
I cannot add to my previous replies on this subject.
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.
