Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 25 March 1947.
Mr Victor Collins
, Taunton
12:00,
25 March 1947
asked the Chancellor of the exchequer whether, in view of the tendency for increased savings, and the fact that there is no upper limit for the amounts of deposits in Trustee Savings Banks, he will increase the upper limit for deposits in the Post Office Savings Bank above the present level of £2,000.
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.
