– in the House of Commons at 1:36 pm on 14 July 2015.
Presentation and First Reading (
Mr Chancellor of the Exchequer, supported by the Prime Minister, Mr Secretary Duncan Smith, Secretary Sajid Javid, Greg Hands, Mr David Gauke, Damian Hinds and Harriett Baldwin, presented a Bill to set a ceiling on the main and additional primary percentages, the secondary percentage and the upper earnings limit in relation to Class 1 national insurance contributions.
Bill read the First time; to be read a Second time tomorrow, and to be printed (Bill 54) with explanatory notes (Bill 54-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.
