Part of the debate – in the House of Commons at 12:00 am on 20 December 1973.
Gerald Kaufman
, Manchester Ardwick
12:00,
20 December 1973
The right hon. Gentleman must surely recall the reply given by the Chancellor of the exchequer to my right hon. and learned Friend the Member for Aberavon (Mr. John Morris) on Monday, when he said:
If, as we all hope, the industrial troubles are settled soon, certainly there would be no
immediate change in the proposals that I have made."—[OFFICIAL REPORT, 17th December 1973; Vol. 866, c. 976.]
Therefore, regardless of the energy situation, the Chancellor will insist on these cuts in local government services.
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 Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
