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What is the Chancellor of the Exchequer?

The Chancellor of the Exchequer is in charge of Britain’s finances.

He or she is responsible for raising money for the Government through taxation and decides how much money each government department receives.

The Chancellor sets out the government’s Budget each year. The Budget explains how the Government is going to raise its money for the next 12 months and what it’s going to spend it on.

The Chancellor is in charge of the government department called the Treasury and is a senior Cabinet minister.

George Osborne is the current Chancellor of the Exchequer in the UK.

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