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 whether he will now give details of the commodities which will be bought with the recently announced allotment by the United States of America of dollars for the purchase of agricultural commodities.
Mr Reginald Maudling
, Barnet
The allotment recently announced is of 20 million dollars under Section 541 of the United States Mutual Security Act. It completes the total allotment of 55 million dollars proposed for the United Kingdom under this Section. Proposals for spending the dollars made available will be discussed with the United States shortly and announced as soon as agreement is reached.
Mr Jo Grimond
, Orkney and Shetland
May we take it that eggs are not included as one of the commodities?
Mr Reginald Maudling
, Barnet
This particular form of aid is an extension of defence support aid, and I doubt if eggs come under that heading.
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.
