Part of Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 25 Mawrth 1947.
Mr Norman Bower
, Harrow West
12:00,
25 Mawrth 1947
asked the Chancellor of the exchequer on what grounds the, C.I.C. refused the application of the Imperial Tobacco Company, Limited, to issue new share's on terms which would have brought its Ordinary dividend more into relation with the real capital employed in the business; and if there has been any change in Treasury policy since his instruction to the C.I.C. last August authorising them to exercise their discretion in approving prices of issue.
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.
