Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 22 June 1954.
Mr Jo Grimond
, Orkney and Shetland
12:00,
22 June 1954
asked the Chancellor of the exchequer how many applications for permission to move overseas have been received under Section 468 (1) of the Income Tax Act, 1952; and how man\ have been refused.
| Commodity | Procurement Authorisation Value | Quantity purchased to date* | Value of purchase f.o.b.* | |
| $m. | $m | |||
| Tobacco | … | 20·0 | 26–27 million pounds | 20·0 |
| Prunes | … | 5·0 | 12,700 tons | 4·8 |
| Lard | … | 8·0 | 15,700 tons | 7·5 |
| Cottonseed oil | … | 11·0 | 12,000 tons | 3·4 |
| Beef | … | 17·25 | Nil | — |
| Oranges | … | 1·5 | Nil | — |
| Grapefruit | … | 0·5 | 15,073 boxes (of about 40 lbs.) | 0·059 |
| Tinned grapefruit | … | 0·5 | 149,416 boxes (of 24 16 oz. tins) | 0·462 |
| Tinned apricots and peaches | … | 2·5 | 9,437 tons | 2·5 |
| *Quantity and value figures are actuals in the case of Ministry of Food purchases, but in the case of private imports represent contracts notified to the Departments concerned. | ||||
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.
