Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 18 February 1954.
Mr Jo Grimond
, Orkney and Shetland
12:00,
18 February 1954
asked the Chancellor of the exchequer what the estimated cost, in dollars, would be this year of allowing a travel allowance for the United States of America at the same rate as for non-dollar countries.
Mr Reginald Maudling
, Barnet
It is impossible to estimate at all closely what the cost would be, but it would certainly be substantial.
Mr Jo Grimond
, Orkney and Shetland
On what has the Chancellor based his decision not to allow it, and does the hon. Gentleman hold out any hope that the ordinary traveller will ever be able to go to the United States again?
Mr Reginald Maudling
, Barnet
I would be most anxious to provide exchange travel facilities and exchange for travellers to all parts of the world, but we have to have regard to the dollar balance of payments, and, in the present state of the dollar reserves, it would not be justifiable to have a dollar travel allowance.
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.
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.
