Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 29 July 1947.
Mr Oliver Crosthwaite-Eyre
, New Forest and Christchurch
12:00,
29 July 1947
asked the Chancellor of the exchequer for what reason no counterclaims were made by His Majesty's Government against the sterling balances held by Uruguay before the payments agreement dated 15th July, 1947, was signed.
Mr Hugh Dalton
, Bishop Auckland
As in other cases, I have stated that His Majesty's Government reserve their position with regard to an adjustment of all sterling balances accumulated under war-time conditions.
Mr Oliver Crosthwaite-Eyre
, New Forest and Christchurch
His Majesty's Government from this answer seem always to be reserving their position; and may I ask the right hon. Gentleman, in view of the categorical assurances he has given this House respecting counterclaims, whether such assurances will be translated into action or for ever remain on the basis of "reserving their position"?
Mr Oliver Crosthwaite-Eyre
, New Forest and Christchurch
asked the Chancellor of the exchequer if he has formed an estimate for the current financial year of the liability of convertibility assumed by His Majesty's Government under the Anglo-Uruguayan Payments Agreement.
Mr Hugh Dalton
, Bishop Auckland
It is expected that payments under this Agreement will approximately balance.
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.
