Oral Answers to Questions — Transport. – in the House of Commons am ar 5 Awst 1924.
Mr Henry Lorimer
, Derbyshire Southern
asked the Chancellor of the exchequer if he will indicate on what basis his statement was made that it would cost the Exchequer £1,000,000 per annum to allow a rebate of one-half of the Excise Duty at present charged on spirit used in the manufacture of perfumery articles; and whether he is aware that the Customs and Excise authorities have stated that they have no figures upon which they can estimate the amount of such loss?
Mr Philip Snowden
, Colne Valley
No precise official statistics are available, because the spirit used is duty-paid and no longer under Revenue supervision. The figure given by me was the result of Departmental inquiries into the use of spirit in perfumery and the closely allied trade of essences.
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.
