Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 29 July 1947.
Sir Edward Keeling
, Twickenham
12:00,
29 July 1947
asked the Chancellor of the exchequer how much the total value of the shares in the Anglo-Iranian Oil Company owned by the nation has risen since 1st January.
Mr Hugh Dalton
, Bishop Auckland
By about £49 million at present market prices.
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.
