It is no part of my job as Chancellor of the Exchequer to put before the House of Commons proposals for the expenditure of public money. The function of the Chancellor of the Exchequer, as I understand it, is to resist all demands for expenditure made by his colleagues and, when he can no longer resist, to limit the concession to the barest point of acceptance.
--
To the House of Commons (30 July 1924, H.C. Deb. Vol. 176, Cols 2091-2.)Philip Snowden
» Philip Snowden - all quotes »
Q: Who caused the inflation?
A: The Chancellor of the Exchequer.
Q: How did he cause it?
A: By putting a flood of new money into circulation.
Q: Why did he do that?
A: To prevent the exchange rate of the pound rising last year.
Q: Why did he want to stop it rising?
A: To keep level with the Deutschmark.
Q: What for?
A: To make it easier to join the EMS.Enoch Powell
...what is the constitutional bearing of these stipulations? ...It is perfectly monstrous...It means that we abandon our fiscal independence, together with our free-trade ways; that we subside into the tenth part of a Vehmgericht which is to direct us what sugar is to be countervailed, at what rate per cent. we are to countervail it, how much is to be put on for the bounty, and how much for the tariff being in excess of the convention tariff; and this being the established order of things, the British Chancellor of the Exchequer in his robes obeys the orders that he receives from this foreign convention, in which the Britisher is only one out of ten, and the House of Commons humbly submits to the whole transaction. ("Shame.") Sir, of all the insane schemes ever offered to a free country as a boon this is surely the maddest. (Cheers.)
Henry Campbell-Bannerman
"Aid from heaven you may have," he said, "by saying your prayers; and I don't doubt you ask for this and all other things generally. But an angel won't come to tell you who ought to be Chancellor of the Exchequer."
Anthony Trollope
I wish I could say that the Chancellor of the Exchequer had done himself less than justice. Unfortunately, I can only say that I believe he has done himself justice. Some Chancellors are macro-economic. Other Chancellors are fiscal. This one is just plain cheap.
Margaret Thatcher
He was the first Chancellor of the Exchequer who ever made the Budget interesting. "He talked shop," it was said, "like a tenth muse." He could apply all the resources of a glowing rhetoric to the most prosaic questions of cost and profit; could make beer romantic and sugar serious. He could sweep the widest horizon of the financial future, and yet stoop to bestow the minutest attention on the microcosm of penny stamps and the monetary merits of half-farthings.
William Ewart Gladstone
Snowden, Philip, 1st Viscount Snowden
Snyder, Gary
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