Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 22 June 1954.
Mr. Norman Smith:
asked the Chancellor of the exchequer if he is aware that the Chatsworth art collection forms a valuable part of the British artistic heritage; and if he will, having regard to the incidence of death duties on the Devonshire estate, consider
Mr R.A. Butler
, Saffron Walden
Eight hundred and seventy-eight applications for Treasury consent have been made. Fourteen applications have been refused.
Mr Jo Grimond
, Orkney and Shetland
Can the Chancellor indicate the sort of grounds upon which these applications are now refused?
Mr R.A. Butler
, Saffron Walden
Not without notice or without detaining the House for a very long time. If the hon. Gentleman puts that Question down, I will endeavour to answer it.
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.
