Joe Morris
Labour, Hexham
To ask the Chancellor of the exchequer, what assessment she has made of the effectiveness of the tax system.
Dan Tomlinson
The Exchequer Secretary
Reforms across the last two Budgets have shown that the government is committed to a fair and efficient tax system. The UK tax system generates substantial revenue to fund our vital public services whilst remaining internationally competitive – in the G7, our tax-to-GDP ratio is in the middle of the pack, and we have the lowest headline rate of corporation tax. And we’re ensuring everyone pays the tax they owe with ambitious measures to close the tax gap.
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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.
