Sterling Exchange Rate (Commonwealth)

Part of Oral Answers to Questions — Education – in the House of Commons at 12:00 am on 20 October 1949.

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Photo of Lieut-Colonel Sir Thomas Moore Lieut-Colonel Sir Thomas Moore , Ayr District of Burghs 12:00, 20 October 1949

What is not clear is this. Was the Minister permitted by the Chancellor to consult the Governments of the Commonwealth before the announcement was made? If so, how long before?

Chancellor

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.

Minister

Ministers make up the Government and almost all are members of the House of Lords or the House of Commons. There are three main types of Minister. Departmental Ministers are in charge of Government Departments. The Government is divided into different Departments which have responsibilities for different areas. For example the Treasury is in charge of Government spending. Departmental Ministers in the Cabinet are generally called 'Secretary of State' but some have special titles such as Chancellor of the Exchequer. Ministers of State and Junior Ministers assist the ministers in charge of the department. They normally have responsibility for a particular area within the department and are sometimes given a title that reflects this - for example Minister of Transport.