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The Chancellor of the Exchequer was the title given to the minister in charge of all economic and financial matters in the United Kingdom.
Following the victory of the Labour Party in the general election in October 1964, James Callaghan was appointed Chancellor by Harold Wilson, the new Prime Minister. (AUDIO: State of Emergency) Callaghan later served as Prime Minister himself from 1976 to 1979. (AUDIO: The Oseidon Adventure)