Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 24 February 1959.
Mr. Gresham Cooke:
asked the Chancellor of the exchequer if he is now in a position to make a further statement to the House on the results of the visit of the President of the World Bank to Colonel Nasser to negotiate in regard to British interests in Egypt.
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.
