Part of Oral Answers to Questions — Environment – in the House of Commons at 12:00 am on 1 April 1987.
Mr Michael Latham
, Rutland and Melton
12:00,
1 April 1987
Is my right hon. Friend aware that, given the improvements in the economy since this policy was introduced, for which my right hon. Friend the Chancellor of the exchequer rightly took credit last month when introducing the Budget, it is increasingly difficult to defend or understand the 20 per cent. limitation? Is it not high time that it was revised upwards to at least 30 per cent.?
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.
