Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 15 Gorffennaf 1947.
Mr Robert Boothby
, Aberdeenshire and Kincardineshire Eastern
12:00,
15 Gorffennaf 1947
asked the Chancellor of the exchequer whether the obligation undertaken by His Majesty's Government to pay for current transactions in convertible currency on request, after 15th July, applies to all our overseas purchases, or only to the outstanding differences between our imports and exports.
Mr Hugh Dalton
, Bishop Auckland
The obligation is not to restrict the use of sterling currently earned for making payments for current transactions in any currency area, including the sterling area.
Mr Robert Boothby
, Aberdeenshire and Kincardineshire Eastern
Does the right hon. Gentleman think that we shall be able to fulfil it?
Mr Hugh Dalton
, Bishop Auckland
Yes, Sir.
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.
