Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 29 November 1973.
Mr Michael O'Halloran
, Islington North
12:00,
29 November 1973
asked the Chancellor of the exchequer how many London boroughs, including the Greater London Council, are participating in the Treasury scheme to obtain foreign currency loans ; and what amount he estimates will be borrowed by them over the net two years.
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.
