Chancellor of the Exchequer his duty to distribute as fairly as he can." The chancellor has considerable control over other departments as it is the Treasury which sets Departmental Expenditure Limits. The amount of power this gives to an individual chancellor depends on his personal forcefulness, his status within his party and his relationship with the prime minister. Gordon Brown, who became chancellor when Labour came into Government in 1997, had a large personal power base in the party. Perhaps as a result, Tony Blair chose to keep him in the same position throughout his ten years as prime minister; making Brown an unusually
How to Pay for the War: A Radical Plan for the Chancellor of the Exchequer that would, in part, be legislated in the Budget of Sir Kingsley Wood, Chancellor of the Exchequer. The deferred pay became a system of post-war credits which were progressively repaid after the war, albeit at reduced value. Keynes devotes much attention to price controls, proposing a number of measures to control (but not planning to eliminate) inflation, measures including deferred pay and forced savings. Most of the book, Chapters IV to X, is dedicated to the problems of resource allocation and price control. The book is an exercise in Keynesian macroeconomics, a prime example of Keynesian analysis and technique, by