Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 12 June 1945.
Mr Frederick Pethick-Lawrence
, Edinburgh East
12:00,
12 June 1945
asked the Chancellor of the exchequer whether, in view of the raising of the limit from £10,000 to £50,000 of the amount free from control by the Capital Issues Committee, he will consult with the Industrial and Commercial Corporation with a view to ensuring that loans below £50,000 should only be provided by it when the objects of the firm or company seeking the accommodation accord with the Memorandum of Guidance to the Capital Issues Committee (Cmd. 6645).
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.
