Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 17 Chwefror 1948.
Mr Daniel Chater
, Bethnal Green North East
12:00,
17 Chwefror 1948
asked the Chancellor of the exchequer to state, in sterling, the known or estimated total of debt owed by the United Kingdom to the United States of America.
Sir Stafford Cripps
, Bristol East
Apart from indebtedness arising out of the 1914–18 war, the total due by His Majesty's Government was £1,059 millions on 31st December, 1947.
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.
