Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 16 December 1947.
Sir Waldron Smithers
, Orpington
12:00,
16 December 1947
asked the Chancellor of the exchequer if he will convene a conference of all heads of Departments, with a view of taking all steps necessary to stop inflation.
Sir Stafford Cripps
, Bristol East
No such conference is required, since all Departments are under constant instruction to avoid unnecessary expenditure.
Sir Waldron Smithers
, Orpington
What earthly good is it to pass an anti-inflationary Budget, while almost in the same breath giving an increase in miners' wages, which puts up the cost of coal to the consumer by 3s. 6d. a ton?
Mr Douglas Clifton Brown
, Hexham
The Question refers to a conference.
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.
