Philip Snowden: The First Labour Chancellor of the Exchequer

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The Labour Representation Committee was only established in 1900, and, after winning 29 seats in the 1906 general election, became the Labour Party. His library of books and pamphlets was presented to Keighley Public Library by his widow, and a cairn was erected to his memory on Ickornshaw Moor in 1938. The old regulations for working in Quarries and Metalliferous Mines were improved, while a medical man was appointed to inspect the First Aid equipment kept at mines.

On the possibility of becoming the first female chancellor, she said: “There’s been a chancellor of the Exchequer now for just over 800 years, and they’ve always been men. A Housing (Financial and Miscellaneous Provisions) Act 1946increased Treasury subsidies for the construction of local authority housing in England and Wales.The chancellor has considerable control over other departments as it is the Treasury that sets Departmental Expenditure Limits. Nevertheless, shortly after the election the Conservative leader Bonar Law died and was replaced by Baldwin, who reneged on his predecessor's electoral pledge not to introduce protective tariffs. As well as being Prime Minister, he became his own Foreign Secretary, a dual role which he performed well enough, but which alienated the second man in the party, Arthur Henderson, who became Home Secretary. He also has a high level of influence over the appointment of the Bank's Governor and Deputy Governors, and has the right of consultation over the appointment of the two remaining MPC members from within the Bank.

The chancellor, as Master of the Mint, has a robe of office, [22] similar to that of the lord chancellor (as seen in several of the portraits depicted below).Upon Ramsay MacDonald's appointment as Prime Minister in January 1924, Snowden was appointed as the Labour Party's first ever Chancellor of the Exchequer [7] and sworn of the Privy Council.

The earliest surviving records which are the results of the exchequer's audit, date from 1129 to 1130 under King Henry I and show continuity from previous years. Since 1827, the chancellor has always simultaneously held the office of second lord of the Treasury when that person has not also been the prime minister.

The National Insurance Act 1946 provided sickness and unemployment benefits for adults, plus retirement pensions. Whilst they claim they want to make a brand new start of it, when it comes down to it, to be frank, they are still the same old hypocrites they’ve always been. This plan, driven forward by a newly created Department of Economic Affairs, aimed to encourage more direct government involvement in planning and modernising the economy, including through applied science and technology.

When it was published 10 months later after a freedom of information request, it revealed he went ahead with a package of tax cuts despite being told by the OBR that the economy was on course for a year-long recession and that higher interest rates were pushing up the cost of servicing the UK’s debts. Hugh Dalton became Chancellor of the Exchequer, but had to resign in 1947, while James Chuter Ede was Home Secretary for the whole duration of the Attlee ministries' stay in power.He profoundly believed in the morality of the balanced budget, with rigorous economy and not a penny wasted.