Part of the debate – in the House of Commons am 12:00 am ar 4 Rhagfyr 1973.
Mr Edward Heath
, Bexley
12:00,
4 Rhagfyr 1973
I thank my hon. Friend for his helpful words at the beginning, but I cannot agree with his thesis in the second part of his question. The Chancellor is responsible for Government expenditure, assisted by the Chief Secretary. That remains the position. The Paymaster-General is not responsible for that sphere of the Treasury's work. My right hon. Friend the Chancellor has often explained to the House that Government expenditure was deliberately allowed by the Government to grow faster than the rate of growth, up to the middle of this year. It was then curtailed, and from 1974 onwards it will be less than the rate of growth in the country. That was deliberate policy carried out by my right hon. Friend and the Government.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.