Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 28 July 1959.
Sir John Barlow
, Middleton and Prestwich
12:00,
28 July 1959
asked the Chancellor of the exchequer what are the present Egyptian sterling credits in London; and how much has been repaid since the agreement signed on 28th February, 1959.
The Chancellor of the exchequer (Mr. Derick Heathcoat Amory):
It is not the practice to give details of the sterling holdings of individual countries, or of transactions on their accounts. I am afraid that I cannot therefore add to the information I gave the House on 16th March last.
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.
