Hugh Dalton (1887-1962) was a Labour Party politician from 1924 until 1931 and from 1935. He became minister of ecomonic warfare in 1940 and president of the Board of Trade in Churchill's war-time coalition in 1942. Dalton became Labour Chancellor of the Exchequer in 1945, and nationalized the Bank of England in 1946. In November 1947 he resigned, due to 'budget leakages' to a journalist.
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