Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 24 February 1959.
Mr Eric Johnson
, Manchester, Blackley
12:00,
24 February 1959
asked the Chancellor of the exchequer what steps he is taking to ensure that British businessmen receive adequate compensation for damage done to their sequestrated businesses and property in Egypt; and if Her Majesty's Government will refrain from releasing any of Egypt's sterling balances now frozen in London until they are satisfied that all British subjects who resided in, or owned property in, Egypt have been fairly treated.
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.
