Economic Secretary to the Treasury

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Economic Secretary to the Treasury
Royal Coat of Arms of the United Kingdom (HM Government).svg
Incumbent
Andrea Leadsom
HM Treasury
Appointer Elizabeth II
Inaugural holder Douglas Jay
Formation December 1947
Website HM Treasury

The Economic Secretary to the Treasury is the fifth most senior ministerial post in the UK Treasury, after the Chancellor of the Exchequer, the Chief Secretary to the Treasury, the paymaster-general and the financial secretary. It is not a cabinet office. The office was originally created in December 1947 and abolished on 22 December 1964 but re-established on 11 November 1981.

Responsibilities[edit]

The economic secretary is responsible, though more senior ministers share in decision making, for the answering of written and verbal parliamentary questions and for the devising of regulations, orders and legislation in various matters. These matters include banking and finance, including banks, insurance, personal savings, financial regulation, and foreign exchange reserves. He or she is also involved in taxation as it impacts on these areas, such as tax on savings and pensions, and Insurance Premium Tax. In addition, the economic secretary advises on economic policy and works with other treasury ministers on the Comprehensive Spending Review and finance bills.[1]

Economic secretaries to the treasury, 1947–present[edit]

  • Office abolished 22 December 1964
  • office re-established 11 November 1981

See also[edit]

References[edit]