Which of the following is the responsibility of the Chancellor of the Exchequer?

The Chancellor of the Exchequer is essentially the government's chief financial officer. Think of them as the person in charge of the nation's piggy bank! Their main job revolves around managing the UK's economy. This includes everything from setting the annual budget, deciding on tax policies, and overseeing government spending. The Chancellor also works closely with the Bank of England on monetary policy. Historically, the role has evolved over centuries, but its core function has always been about managing the country's finances. While issues like immigration, crime, and policing are certainly important, they fall under the responsibilities of other government departments, such as the Home Office. So, when you think of the Chancellor, remember they are the person primarily responsible for the economic well-being of the UK.