Part of Oral Answers to Questions — China. – in the House of Commons am ar 14 Ebrill 1927.
Mr William Thorne
, West Ham Plaistow
Is it the intention of the Chancellor of the exchequer to "pinch" not only the principal, but the amount of the interest as well?
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.
