Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 27 November 1956.
Mr. H. Wilson:
In view of this serious figure, plus the loss of revenue from the licensing of cars and Purchase Tax revenue on new cars—all this on top of the £50 million to which he referred the other day—does the Chancellor still maintain that the main structure of his Budget remains unaffected by the economic effects of the Suez crisis?
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.
