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Definition

Chancellor of the Exchequer noun

/ˌtʃɑːnt .səl.ə.rəv.ði.eksˈtʃek.ər /US pronunciation symbol/ˌtʃænt .səl.ɚ.əv.ði.eksˈtʃek.ɚ/ n
the person in the British Government who is responsible for deciding tax levels and how much money the Government can spend

(Definition of Chancellor of the Exchequer noun from the Cambridge Advanced Learner's Dictionary)
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