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First Schedule. — (Amendments of Purchase Tax Rates.)

Part of Orders of the Day — Finance Bill – in the House of Commons at 12:00 am on 23 November 1955.

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Photo of Mr Emanuel Shinwell Mr Emanuel Shinwell , Easington 12:00, 23 November 1955

Numerous suggestions are being conveyed to me from my hon. Friends, and I am at a loss which one to use. Now that the Chancellor is here perhaps I may briefly repeat the point which I put to the Financial Secretary. The Chancellor wants £75 million, and he is seeking to reduce inflation. He looks around and says, "Where shall I get the £75 million?" He imposes a tax on pot scourers. He might have imposed a tax on some of the pot boilers which we receive from the United States in the form of films.

Chancellor

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.