Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 16 December 1947.
Mr James Harrison
, Nottingham East
12:00,
16 December 1947
asked the Chancellor of the exchequer if he will indicate the present position of Egypt in relation to the sterling currency area; and what direct applications or overtures have been made by that country to re-enter the sterling area.
Sir Stafford Cripps
, Bristol East
Egypt left the sterling area on 14th July, 1947; the answer to the second part of the Question is, "None, Sir."
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.
