Oral Answers to Questions — National Finance – in the House of Commons am 12:00 am ar 10 Tachwedd 1964.
Mr Peter Walker
, Worcester
12:00,
10 Tachwedd 1964
asked the Chancellor of the exchequer if in future he will publish details of Government borrowing from overseas sources at monthly or quarterly intervals.
Mr Norman St John-Stevas
, Chelmsford
asked the Chancellor of the exchequer how much money was borrowed by Her Majesty's Government from foreign central banks in the six months before 15th October. 1964, and how much has been borrowed since.
Mr Jack Diamond
, Gloucester
It has not been the practice to disclose in the past the amount of transactions in recent months. I am considering future policy on this matter and would prefer not to commit myself to any fixed procedure for the present.
Mr Peter Walker
, Worcester
Is the hon. Gentleman aware that he has expressed a far more moderate view than that disclosed by his right hon. Friend the Prime Minister, who has accused my right hon. Friend the Member for Barnet (Mr. Maudling) of suppressing this information although it has been normal practice before not to publish? Is not this practice also likely to be the normal practice in future?
Mr Jack Diamond
, Gloucester
I have listened to what the hon. Gentleman has said.
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.
