Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 5 August 1947.
Mr Oliver Crosthwaite-Eyre
, New Forest and Christchurch
12:00,
5 August 1947
asked the Chancellor of the exchequer the value of gold now held in Norway and Czechoslovakia to the credit of the Bank of England under the payments agreements made with those countries.
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.
