Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 23 June 1964.
Mr Patrick Duffy
, Colne Valley
12:00,
23 June 1964
Is not the right hon. Gentleman aware that there is great scope here for imagination on the part of a Chancellor of the exchequer who wants to diversify the range of stock now available to investors, and especially Government stock, which is his responsibility? Is he aware that there is a special need to offer small investors in Government stock some measure of protection against current inflationary tendencies and at the same time offer them some hope of a share in future national prosperity?
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.
