Bills Presented – in the House of Commons at 3:27 pm on 23 November 1989.
Mr. Secretary Parkinson, supported by Mr. Chancellor of the Exchequer, Mr. Secretary Walker, Mr. Secretary Ridley, Mr. Secretary Rifkind, Mr. Secretary Patten, Mr. Secretary Brooke, Mr. Norman Lamont and Mr. Patrick McLoughlin, presented a Bill to increase the Civil Aviation Authority's statutory borrowing limit 'with power to make further increases by order; and to extend the Authority's power to borrow in currencies other than sterling so as to include power to borrow in units of account defined by reference to more than one currency: And the same was read the First time; and ordered to be read a Second time tomorrow and to be printed. [Bill 5]
A proposal for new legislation that is debated by Parliament.
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.
