Orders of the Day — Finance Bill – in the House of Commons am 12:00 am ar 10 Mehefin 1947.
Mr George Wadsworth
, Buckrose
The reason for my rising to speak on this Clause is to direct the Committee's attention to the large number of items upon which Import Duties are levied. It is not unusual for members of my party to speak on imports, for the time has gone when hon. Members, in any part of the House look upon the fiscal problem of tariffs or Free Trade in the absolute colours of black and white. I would ask the Chancellor to re-examine the whole question of Import Duties, for, out of the whole revenue of £3,400 million, only £21 million was raised in the last financial year on all Import Duties when levied for productive purposes under tariff legislation.
Lieut-Commander Joseph Braithwaite
, Holderness
On a point of Order. Is the hon. Member in Order in pursuing the question of Import Duties on a Clause which deals solely with excise matters?
Mr James Milner
, Leeds South East
No, the hon. Member is not in Order in raising this matter now.
Mr George Wadsworth
, Buckrose
In that case, I will ask the Chancellor of the exchequer to re-examine the question of the thousands of articles on which there is an Import Duty.
A parliamentary bill is divided into sections called clauses.
Printed in the margin next to each clause is a brief explanatory `side-note' giving details of what the effect of the clause will be.
During the committee stage of a bill, MPs examine these clauses in detail and may introduce new clauses of their own or table amendments to the existing clauses.
When a bill becomes an Act of Parliament, clauses become known as sections.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
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.
