Part of Oral Answers to Questions — Railways – in the House of Commons at 12:00 am on 11 August 1947.
Mr Henry Strauss
, Combined English Universities
12:00,
11 August 1947
Is it not quite clear that this increase is due to the Government's policy of inflation, whether or not that policy is consciously adopted by the Chancellor of the exchequer?
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.
