Part of Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 22 Ebrill 1948.
Mr William Hall
, Colne Valley
12:00,
22 Ebrill 1948
My right hon. and learned Friend the Chancellor of the exchequer intends to move an Amendment on the Committee stage of the Finance Bill which will have the effect of charging fabrics not exceeding 3 inches wide at the same rate as haberdashery, 33⅓ per cent.
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.
As a bill passes through Parliament, MPs and peers may suggest amendments - or changes - which they believe will improve the quality of the legislation.
Many hundreds of amendments are proposed by members to major bills as they pass through committee stage, report stage and third reading in both Houses of Parliament.
In the end only a handful of amendments will be incorporated into any bill.
The Speaker - or the chairman in the case of standing committees - has the power to select which amendments should be debated.
