Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 23 June 1964.
Mr James Callaghan
Shadow Chancellor of the Exchequer, Member, Labour Party National Executive Committee
12:00,
23 June 1964
Can the right hon. Gentleman say whether under the Exchange Control Act Chrysler is prevented from acquiring further securities because of a legal sanction, or is it because it has entered into an undertaking with the Chancellor or with Rootes not to do that?
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
