Part of Treasury – in the House of Commons at on 7 May 2024.
Jeremy Hunt
The Chancellor of the Exchequer
We can absolutely do that. I thank my hon. Friend for pointing out that the biggest single thing we can do to help people with cost of living pressures is to bring down inflation. That seems to be something that escaped the Shadow Chancellor this morning, when she said it was not a big deal to get inflation down to its target. It is a very big deal for families facing a cost of living crisis, and she needs to know that inflation falls by design, not by accident.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
The shadow cabinet is the name given to the group of senior members from the chief opposition party who would form the cabinet if they were to come to power after a General Election. Each member of the shadow cabinet is allocated responsibility for `shadowing' the work of one of the members of the real cabinet.
The Party Leader assigns specific portfolios according to the ability, seniority and popularity of the shadow cabinet's members.
