Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 11 March 1947.
Mr Oliver Crosthwaite-Eyre
, New Forest and Christchurch
12:00,
11 March 1947
asked the Chancellor of the exchequer what representations have been made by His Majesty's Government to Brazil over that country's refusal to accept further sterling for payment of trade transactions.
Mr Hugh Dalton
, Bishop Auckland
The Brazilian Government have been informed that the decision of the Bank of Brazil to cease buying sterling is regarded by His Majesty's Government as a contravention of existing arrangements, and have been pressed to resume such purchases.
Mr Oliver Crosthwaite-Eyre
, New Forest and Christchurch
Can the right hon. Gentleman say when that message was sent to the Central Bank of Brazil, and when he expects an answer? Surely this is an attempt to browbeat His Majesty's Government over sterling balances?
Mr Hugh Dalton
, Bishop Auckland
If it is such an attempt it will not succeed. I believe that the message was sent within the last few days, and we must allow a reasonable time for a reply.
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.
