Part of Oral Answers to Questions — National Finance – in the House of Commons at 12:00 am on 29 November 1973.
Mr Jock Bruce-Gardyne
, South Angus
12:00,
29 November 1973
asked the Chancellor of the exchequer what was the increase in the money supply, at an annual rate, in the latest quarter for which figures are available, according to the M3 definition, and according to the Government's preferred definition, respectively ; and if, in the light of these figures, he will redefine the objectives of monetary policy for the remainder 18. Mr. William Hamilton asked f the current financial year.
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.
