Part of Oral Answers to Questions — Treasury – in the House of Commons at 12:00 am on 16 January 1997.
Mr Robert Sheldon
Chair, Public Accounts Committee
12:00,
16 January 1997
Is the hon. Lady aware that chambers of commerce in the north-west have stated that they are more concerned about the level of interest rates and a competitive pound than about anything else? Although I welcome the decision by the Chancellor of the exchequer to overcome the fears of the Governor of the Bank of England, will the hon. Lady ensure that my points about the competitive pound are fully taken into account, bearing in mind the need for manufacturing industry in the north-west of England?
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.
