Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 10 November 1964.
Mr Frank Allaun
, Salford East
12:00,
10 November 1964
asked the Chancellor of the exchequer if he will set up a press cuttings library, covering all the foreign and domestic issues likely to be discussed in the House of Commons, to be made available to all Members of Parliament.
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.
The House of Commons is one of the houses of parliament. Here, elected MPs (elected by the "commons", i.e. the people) debate. In modern times, nearly all power resides in this house. In the commons are 650 MPs, as well as a speaker and three deputy speakers.
