Oral Answers to Questions — National Finance. – in the House of Commons at on 9 September 1941.
Sir John Mellor
, Tamworth
asked the Chancellor of the exchequer the progress of his negotiations with Messrs. Courtaulds, Limited, with regard to the price to be paid for their former holding of American Viscose Corporation shares?
Sir Kingsley Wood
, Woolwich West
These negotiations are proceeding. I cannot yet say what further length of time they will require.
Sir John Mellor
, Tamworth
In the event of arbitration being necessary, will the Government agree to accept the award without reservations?
Sir Kingsley Wood
, Woolwich West
I think we had better await events.
Sir John Mellor
, Tamworth
But has not this a bearing on the negotiations themselves?
Sir Kingsley Wood
, Woolwich West
My hon. Friend has asked me a hypothetical question.
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.
