Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 27 November 1956.
Mr. H. Wilson:
asked the Chancellor of the exchequer if he will state the net sales of Government-held dollar securities in the past 12 months and the past four months, respectively.
Mr Harold Macmillan
, Bromley
In the twelve months ending 22nd November, 1956, sales were made in the London market amounting to £12 million. For the four months ending on the same date, the figure was £5·4 million.
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.
