Part of the debate – in the House of Commons at 12:00 am on 20 December 1973.
Mr Edward Mallalieu
, Brigg
12:00,
20 December 1973
Order. Inadvertently, I am sure, the hon. Member for Birmingham, Small Heath (Mr. Denis Howell) has accused the Chancellor of the exchequer of deliberately misleading the House. That is rather improper. Perhaps the hon. Gentleman will reconsider that statement.
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.
