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Sam’s British History > Chancellors of the Exchequer > Flashcards

Chancellors of the Exchequer Flashcards

1
Q

What is the primary role of the Chancellor of the Exchequer?

A

To oversee the economic and financial matters of the government.

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2
Q

True or False: The Chancellor of the Exchequer is a member of the Cabinet.

A

True

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3
Q

Fill in the blank: The Chancellor of the Exchequer is responsible for the __________.

A

Treasury

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4
Q

Who was the first Chancellor of the Exchequer?

A

Sir Robert Walpole

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5
Q

What year was the position of Chancellor of the Exchequer first established?

A

1694

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6
Q

Multiple Choice: Which of the following is a key responsibility of the Chancellor of the Exchequer? A) Defense policy B) Economic policy C) Education policy

A

B) Economic policy

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7
Q

Name one significant budget that a Chancellor of the Exchequer is responsible for presenting.

A

The annual budget

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8
Q

True or False: The Chancellor of the Exchequer manages public spending.

A

True

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9
Q

What is the official residence of the Chancellor of the Exchequer?

A

11 Downing Street

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10
Q

Who is the current Chancellor of the Exchequer as of October 2023?

A

Jeremy Hunt

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11
Q

Fill in the blank: The Chancellor of the Exchequer is responsible for setting __________.

A

tax rates

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12
Q

What is the name of the report that the Chancellor presents to Parliament?

A

The Budget Report

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13
Q

Multiple Choice: In which political party is the Chancellor of the Exchequer usually affiliated? A) Labour B) Conservative C) Liberal Democrats

A

B) Conservative

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14
Q

True or False: The Chancellor of the Exchequer can influence monetary policy.

A

True

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15
Q

What is one of the key tools used by the Chancellor to manage the economy?

A

Fiscal policy

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16
Q

Who appoints the Chancellor of the Exchequer?

A

The Prime Minister

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17
Q

Fill in the blank: The Chancellor of the Exchequer is responsible for the management of __________.

A

public finances

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18
Q

What is the term used for the financial plan presented by the Chancellor?

A

The Budget

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19
Q

True or False: The Chancellor of the Exchequer has the power to create laws.

A

False

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20
Q

Name one major challenge that Chancellors of the Exchequer face.

A

Economic recession

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21
Q

Multiple Choice: Which of the following is NOT a responsibility of the Chancellor? A) Setting interest rates B) Collecting taxes C) Managing public debt

A

A) Setting interest rates

22
Q

What is the name of the department that the Chancellor oversees?

A

HM Treasury

23
Q

Fill in the blank: The Chancellor’s decisions can impact __________ across the country.

A

economic growth

24
Q

Who was Chancellor of the Exchequer during the 2008 financial crisis?

A

Alistair Darling

25
Q

True or False: The Chancellor is responsible for public sector wages.

A

True

26
Q

What is a ‘spending review’ in relation to the Chancellor of the Exchequer?

A

A process to allocate government spending for a set period.

27
Q

Multiple Choice: Which Chancellor was known for introducing the ‘New Deal’ in the UK? A) Gordon Brown B) George Osborne C) Rishi Sunak

A

A) Gordon Brown

28
Q

What is the main aim of the fiscal policies implemented by the Chancellor?

A

To manage the economy and promote growth.

29
Q

Fill in the blank: The Chancellor often faces scrutiny from the __________.

A

Opposition party

30
Q

True or False: The Chancellor of the Exchequer has the ability to influence the Bank of England’s policies.

A

True

31
Q

What is the significance of the Autumn Statement?

A

It provides an update on the economy and government spending plans.

32
Q

Who was the first female Chancellor of the Exchequer?

A

N/A (as of October 2023, there has been no female Chancellor)

33
Q

Multiple Choice: Which Chancellor introduced the ‘austerity measures’ in the UK? A) Alistair Darling B) George Osborne C) Rishi Sunak

A

B) George Osborne

34
Q

What economic indicator is a Chancellor likely to monitor closely?

A

GDP growth

35
Q

Fill in the blank: The Chancellor is often seen as the __________ person in the government.

A

most powerful

36
Q

True or False: The Chancellor has no influence over tax policy.

A

False

37
Q

What is the term for the official predictions of government revenues and expenditures?

A

Economic forecasts

38
Q

Who succeeded George Osborne as Chancellor of the Exchequer?

A

Philip Hammond

39
Q

Multiple Choice: Which Chancellor was in office during Brexit negotiations? A) Philip Hammond B) Sajid Javid C) Rishi Sunak

A

A) Philip Hammond

40
Q

Fill in the blank: The Chancellor’s office is often referred to as __________.

A

the Treasury

41
Q

True or False: The Chancellor’s decisions can affect inflation rates.

A

True

42
Q

What is the term for the tax levied on income in the UK?

A

Income tax

43
Q

Who is responsible for the UK’s public borrowing?

A

The Chancellor of the Exchequer

44
Q

Multiple Choice: Which Chancellor introduced the ‘Help to Buy’ scheme? A) Alistair Darling B) George Osborne C) Rishi Sunak

A

B) George Osborne

45
Q

What is the role of the Chief Secretary to the Treasury?

A

To assist the Chancellor in managing the Treasury.

46
Q

Fill in the blank: The Chancellor often presents the Budget in __________.

A

March

47
Q

True or False: The Chancellor of the Exchequer is responsible for pension policies.

A

True

48
Q

What is the significance of the Red Book?

A

It contains detailed information about the Budget and economic forecasts.

49
Q

Who was the Chancellor of the Exchequer during the COVID-19 pandemic?

A

Rishi Sunak

50
Q

Multiple Choice: Which Chancellor is known for the phrase ‘We’re all in this together’? A) Gordon Brown B) Alistair Darling C) George Osborne

A

C) George Osborne

51
Q

Fill in the blank: The Chancellor is expected to promote __________ growth.

A

sustainable

Sam’s British History (16 decks)

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