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Members: Correspondence

Treasury written question – answered at on 8 May 2009.

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Photo of John Bercow John Bercow Conservative, Buckingham

To ask the Chancellor of the exchequer when he plans to reply to the letter of 27 February 2009 from the hon. Member for Buckingham on Lloyds TSB's sale of Abbey Life Financial Advisers in 2000.

Photo of Angela Eagle Angela Eagle The Exchequer Secretary, Member, Labour Party National Executive Committee

Due to the large volume of correspondence received on these issues there has been a delay in sending some responses. The Financial Services Secretary hopes to be in a position to reply to the hon. Member shortly.

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Chancellor of the Exchequer

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.