Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 18 February 1954.
Mr Willie Hamilton
, Fife West
12:00,
18 February 1954
asked the Chancellor of the exchequer what statistics are avail able to him to enable some estimate to be made of the proportion of income spent, respectively, on food, rent, and fuel, by the various income groups; and to what extent this estimate influences policy in relation to food subsidies, rent and rates.
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.
