Part of Oral Answers to Questions — Environment – in the House of Commons am 12:00 am ar 27 Mawrth 1991.
Mr Michael Heseltine
Secretary of State for Environment
12:00,
27 Mawrth 1991
My right hon. Friend the Chancellor of the exchequer announced in his Budget a new grant to reduce community charges by £140 in 1991–92. I announced on 21 March that the community charge would be replaced at the earliest opportunity by a new local tax.
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.
