Part of Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 28 Ionawr 1947.
Mr Morgan Price
, Forest of Dean
12:00,
28 Ionawr 1947
asked the Chancellor of the exchequer what percentage of the proceeds of the U.S. loan has been used to purchase plant and equipment for British industry; and what percentage on consumer goods.
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.
