Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 11 March 1947.
Mr Hubert Medland
, Plymouth Drake
12:00,
11 March 1947
asked the Chancellor of the exchequer if he will now announce when payment of war damage claims on total loss, under Part I of the War Damage Act, 1943, will be made; the total number of claims received and the total number paid up to 31st December, 1946, under Part II of the Act.
Mr Hugh Dalton
, Bishop Auckland
As I have already stated, I hope that value payments will be made this year. The second part of the Question is a matter for my right hon. and learned Friend the President of the Board of Trade.
Mr Hubert Medland
, Plymouth Drake
Can my right hon. Friend come a little nearer? Next year is a long time to wait for those people who lost all their belongings in 1941.
Mr Hugh Dalton
, Bishop Auckland
This year is nearer than next year.
Mr Arthur Molson
, High Peak
Does not the right hon. Gentleman agree that payment of this very large sum, at a time when goods and houses are in short supply, is likely to be very inflationary in its effect?
Mr Hugh Dalton
, Bishop Auckland
That would be a matter for debate, but I am advised that it is less likely to have inflationary effects than almost any other large payment that could be made at the present time.
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.
