Part of the debate – in the House of Commons at 11:23 am on 8 January 2015.
Presentation and First Reading (
Mr Chancellor of the Exchequer, supported by the Prime Minister, the Deputy Prime Minister, Danny Alexander, Secretary Theresa Villiers, Mr David Gauke, Priti Patel and Andrea Leadsom, presented a Bill to make provision for and in connection with the creation of a Northern Ireland rate of corporation tax.
Bill read the First time; to be read a Second time tomorrow, and to be printed (Bill 149), with explanatory notes (Bill 149-EN).
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 office of Deputy Prime Minister is one that has only existed occasionally in the history of the United Kingdom. Unlike analogous offices in other nations, the Deputy Prime Minister does not have any of the powers of the Prime Minister in the latter's absence and there is no presumption that the Deputy Prime Minister will succeed the Prime Minister.
The post has existed intermittently and there have been a number of disputed occasions as to whether or not the title has actually been conferred.
More from wikipedia: http://en.wikipedia.org/wiki/Deputy_Prime_Minister_of_the_United_Kingdom
