Part of the debate – in the House of Lords at 2:58 pm on 15 July 2025.
Lord Livermore
The Financial Secretary to the Treasury
2:58,
15 July 2025
I think that history is on my side here. On whether the Chancellor has the courage to do long-term reform and what is right for the British economy, she has shown that, absolutely she has.
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.
