Part of Oral Answers to Questions — Pensions and National Insurance – in the House of Commons at 12:00 am on 16 November 1964.
Miss Peggy Herbison
, Lanarkshire North
12:00,
16 November 1964
I would refer the hon. Member to the statement made by my right hon. Friend the Chancellor of the exchequer on 11th November, about the proposals I shall shortly be announcing.
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.
