Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 24 February 1959.
Mr Ian Mikardo
, Reading
12:00,
24 February 1959
asked the Chancellor of the exchequer the approximate annual total of public funds now being spent on research on automation and electronic controls and related matters.
Mr Ian Mikardo
, Reading
Is the right hon. Gentleman aware that we are unfortunately falling behind some other countries which are our competitors in this matter? Does he not know that whereas almost all the transfer machines at present being installed in British factories are being imported, our biggest transfer manufacturer has just laid off half his staff? Will he consult his right hon. Friends directly concerned with these matters to see whether something can be done to remedy this very grave situation?
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.