Part of Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 29 Gorffennaf 1947.
Mr Oliver Crosthwaite-Eyre
, New Forest and Christchurch
12:00,
29 Gorffennaf 1947
asked the Chancellor of the exchequer with what countries arrangements have been concluded whereby sterling received by them from the International Fund becomes convertible; and whether such arrangements apply also to all sterling-area currencies.
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.
