Part of Orders of the Day — Finance Bill – in the House of Commons am 12:00 am ar 10 Mehefin 1947.
Sir Frank Sanderson
, Ealing East
12:00,
10 Mehefin 1947
I would ask the Financial Secretary to give a reply to the following point which I think this Clause is primarily drawn up to cover: Molasses are imported into this country in large quantities and they contain a high percentage of sugar. They are used primarily for two purposes—one in the process of distilling, and the other in the manufacture of cattle feedingstuffs. I understand that it is the wish of the Chancellor of the exchequer that the sugar content in molasses shall be free of duty. I think that I am right in saying that the two illustrations I have given cover the principal commodity upon which the right hon. Gentleman desires by this Clause to free the sugar content from duty, though there are others to which the Financial Secretary has referred.
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 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.
