Oral Answers to Questions — Finance Act. – in the House of Commons am ar 7 Gorffennaf 1925.
Mr Carlyon Bellairs
, Maidstone
asked the Chancellor of the exchequer whether the Treasury, through the Advisory Committee on Bank Amalgamations, is considering any further proposals for amalgamations with the large banks in this country; and whether they are prepared to approve of such proposals?
Mr Winston Churchill
, Epping
While I cannot forecast the recommendation of the Committee in cases not before them, I share the view expressed by my predecessor the late Chancellor of the exchequer on the 26th February, 1924, that further amalgamations with the larger banks would not, in principle, be regarded with favour by His Majesty's Government.
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.
