In the English Parliament between 1641 and 1967, proposals for raising taxation originated in the Committee of Ways and Means, where they were initiated by a Government minister.

With effect from 1967 that Committee was abolished. The Chairman of Ways and Means presided over that Committee; and though Speakers have sometimes presided at Budgets since abolition of the Committee (as, for example, in 1968 and 1989), the Chairman does still generally occupy the chair during the speech.

The Chairman of Ways and Means is the title given to the Deputy Speaker who is appointed on a motion tabled at the beginning of each Parliament by the Leader of the House. The Chairman of Ways and Means has two deputies: the 1st and 2nd Deputy Chairman of Ways and Means. Thus there are three deputy Speakers who may take the Chair in the place of the Speaker. The word speaker has a number of uses: In politics the Speaker is the presiding officer in many legislative bodies. ...

In the British Parliament, the Speaker and his deputies are considered independent and as such they do not normally vote, except for casting votes, and they are not included in the figures of party strengths within the House of Commons.

The term "Ways and Means" refers to the provision of revenue to meet national expenditure and to forward the objectives of economic policy. Ways and Means are principally provided by the imposition of taxation - the Budget resolutions are Ways and Means resolutions, upon which the Finance Bill is based - but also by the raising of loans and provision made as occasion arises for the payment of sums into the Consolidated Fund or the National Loans Fund. The Consolidated Fund is the British governments central bank account, held at the Bank of England. ...