Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 2 December 1947.
Mr Cyril Osborne
, Louth Borough
12:00,
2 December 1947
May I ask the Chancellor of the exchequer why he has deliberately misinterpreted the meaning of the Question? I want to know what is the purchasing value in normal commodities of a certificate now as compared with 1939. Is he not aware that inflation is a deterrent to the Savings Movement?
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.
