Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 23 June 1964.
Mr Maurice Edelman
, Coventry North
12:00,
23 June 1964
asked the Chancellor of the exchequer whether he is satisfied that his powers are adequate to control foreign investment in British industry when the public interest requires that it should be so controlled; and if he will make a statement.
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.
