Oral Answers to Questions — Trade and Commerce. – in the House of Commons at on 9 September 1941.
Mr Walter Higgs
, Birmingham West
asked the Chancellor of the exchequer whether he is aware that many companies are making munitions, or other war-time necessities, which are not authorised by their Memoranda of Association; and will he introduce legislation to rectify this position forthwith?
Sir Kingsley Wood
, Woolwich West
I am aware that difficulties may be felt on this score. If any company feels in doubt it should approach the Government Department concerned with its production. Powers exist to deal with the situation under the Defence Regulations, and there appears to be no need for further legislation.
Mr Walter Higgs
, Birmingham West
Is the Minister aware that if there is a difference, and a contract can not be enforced, the directors may be held personally responsible?
Sir Kingsley Wood
, Woolwich West
No, Sir. I am not aware of that. I doubt if it is so, but if my hon. Friend will approach the Department concerned, I think he will find that help will be given to him in that connection.
Mr William Gallacher
, Fife Western
If they carried on the business without profit would not that relieve them of any responsibility?
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.
Ministers make up the Government and almost all are members of the House of Lords or the House of Commons. There are three main types of Minister. Departmental Ministers are in charge of Government Departments. The Government is divided into different Departments which have responsibilities for different areas. For example the Treasury is in charge of Government spending. Departmental Ministers in the Cabinet are generally called 'Secretary of State' but some have special titles such as Chancellor of the Exchequer. Ministers of State and Junior Ministers assist the ministers in charge of the department. They normally have responsibility for a particular area within the department and are sometimes given a title that reflects this - for example Minister of Transport.
