Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 29 Gorffennaf 1947.
Commander Sir Douglas Marshall
, Bodmin
12:00,
29 Gorffennaf 1947
asked the Chancellor of the exchequer to what extent the drain on our dollar reserves has increased since 15th July.
Mr Hugh Dalton
, Bishop Auckland
There has been no substantial change in the drain during the fortnight since 15th July compared with the immediately preceding period. Arrangements with a number of countries for the transferability of sterling were, of course, in operation before 15th July.
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.
