Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 23 June 1964.
Mr Albert Oram
, East Ham South
12:00,
23 June 1964
asked the Chancellor of the exchequer what estimate he made, when formulating his Budget proposals for 1963–64 and 1964–65, of the balance of payments surplus on an annual and a quarterly basis; and how the actual performance so far compares with these estimates.
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.
