Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 8 December 1949.
Mr Frederick Erroll
, Altrincham and Sale
12:00,
8 December 1949
asked the Chancellor of the exchequer, if he will publish a list of firms, showing the separate amounts at present on loan to them from the Treasury.
Mr Douglas Jay
, Battersea North
No, Sir. It would be contrary to the normal practice to give these particulars about individual companies, most of which are private companies. The total number of companies assisted is 27, under Section 4 of the Distribution of Industry Act, 1945, and 5 under the Special Areas (Amendment) Act, 1937. The respective amounts outstanding are £1,305,302 and £209,484, a total of £1,514,786.
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.
As a bill passes through Parliament, MPs and peers may suggest amendments - or changes - which they believe will improve the quality of the legislation.
Many hundreds of amendments are proposed by members to major bills as they pass through committee stage, report stage and third reading in both Houses of Parliament.
In the end only a handful of amendments will be incorporated into any bill.
The Speaker - or the chairman in the case of standing committees - has the power to select which amendments should be debated.
