The Chancellor of the Exchequer (Theme B)

Question 1

What is the role of the Chancellor of the Exchequer?

Answer 1

To budget for income, expenditure and debts, manage risks, and make decisions about the allocation of public funding.

Question 2

What are the key responsibilities of the role of the Chancellor of the Exchequer?

Answer 2

• raising revenue for the government through taxation or borrowing.
• controlling how government revenue is spent.
• leading the Treasury, a ministerial department made up of junior ministers and civil servants.
• allocating the expenditure limits for all other government departments.