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 convertibility liability incurred under the Argentine Payments Agreement to date".
Mr Hugh Dalton
, Bishop Auckland
The net current sterling earnings of the Argentine.
Mr Oliver Crosthwaite-Eyre
, New Forest and Christchurch
Will the Chancellor state what that sum is, in accordance with the Question?
Mr Hugh Dalton
, Bishop Auckland
No, Sir, I do not think it is advisable to state particular figures from day to day. I think it would be better to leave it.
Mr Oliver Crosthwaite-Eyre
, New Forest and Christchurch
If this sort of information is refused, how can the House ever understand what is happening on matters affecting our balance of trade?
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.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
