Part of the debate – in the House of Commons am 12:00 am ar 20 Mai 1947.
Mr William Gallacher
, Fife Western
12:00,
20 Mai 1947
Will the Chancellor of the exchequer continue to pursue this policy until local authorities are completely free from interest payments to the moneylenders?
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.
