Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 28 January 1947.
Mr Roland Robinson
, Blackpool South
12:00,
28 January 1947
Can the Chancellor of the exchequer say what inducements there are to lenders to take out Treasury Bills or long-term Government loans at 2½ per cent., when they can do seven days' business with the Co-operative at 2 per cent.? Does he not think it right that the Co-operative Bank should be put under the same Treasury policy and have to pay the same as the joint stock banks?
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.
A proposal for new legislation that is debated by Parliament.
