Part of Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 24 Ebrill 1947.
Mr Oliver Crosthwaite-Eyre
, New Forest and Christchurch
12:00,
24 Ebrill 1947
asked the Chancellor of the exchequer (1) with what countries His Majesty's Government have concluded agreements of convertibility of sterling and what is the estimated total of sterling to be converted during the financial year 1947–48 under such agreements;
(2) if it is the policy of His Majesty's Government to ensure that any agreements for the convertibility of sterling include an arrangement that credit balances of currency held by this country of the currency concerned are equally convertible.
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.
