Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 11 March 1947.
Sir Charles Taylor
, Eastbourne
12:00,
11 March 1947
asked the Chancellor of the exchequer whether his attention has been drawn to the fact that 1,500,000 ounces of silver are being brought from the U.S.A. in the "Queen Elizabeth"; and if he will state the reason for this shipment, in view of his action in withdrawing silver coinage so that the silver may be sent to the U.S.A. in settlement of the wartime loan of silver by the U.S.A.
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.
