Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 20 Mai 1947.
Mr Morgan Price
, Forest of Dean
12:00,
20 Mai 1947
asked the Chancellor of the exchequer if he will consider taking steps to prevent, after July of this year, sterling balances held by foreigners in this country from being, under certain circumstances, converted into dollars, thereby prejudicing our financial position.
Mr Hugh Dalton
, Bishop Auckland
I would refer my hon. Friend to my replies to the hon. and gallant Member for the New Forest and Christchurch (Colonel Crosthwaite-Eyre) and to the hon. Member for Bodmin (Mr. D. Marshall) on 13th May.
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.
