Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 11 March 1947.
Mr. De le Bère:
asked the Chancellor of the exchequer whether, in view of the fact that Britain is unable to purchase from the U.S.A. more than 50 per cent. of the shipping which is urgently required, he will approach the Govern of the U.S.A. with a view to reducing this country's dollar contributions to relief schemes for other countries until the vital needs of this country are met.
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.
