Lord of the Treasury

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In the United Kingdom, there are at least six Lords of the Treasury who serve concurrently. Traditionally, this board (serving as a commission for the Lord High Treasurer) consists of the First Lord of the Treasury, the Second Lord of the Treasury, and four or more junior lords (to whom this title is usually applied).

Strictly they are commissioners for exercising the office of Lord High Treasurer (similar to the status of the Lords Commissioners of the Admiralty exercising the office of Lord High Admiral until 1964, when the Queen resumed the office). This office has continually been in commission since the resignation in 1714 of Charles, Duke of Shrewsbury, who was appointed to the office by Queen Anne on her deathbed.[1]

Until the 19th century, this commission made most of the economic decisions of Great Britain (England, before the Act of Union 1707). However, starting during the 19th century, these positions became sinecure positions, with the First Lord serving almost invariably as Prime Minister, the Second Lord invariably as Chancellor of the Exchequer (the exchequer being the modern treasury of the United Kingdom), and the junior lords serving as assistant whips in Parliament.

Currently, there are eight lords of the treasury (appointed on 15 July 2014):[2]

See also[edit]

References[edit]

  1. ^ Stuart Handley, ‘Talbot, Charles, duke of Shrewsbury (1660–1718)’, Oxford Dictionary of National Biography, (Oxford University Press, Sept 2004; online edn, Jan 2008)[1], accessed 19 Aug 2008.
  2. ^ "Ministerial appointments: July 2014". https://www.gov.uk/. 10 Downing Street, London: Prime Minister’s office. 15 July 2014. Retrieved 31 July 2014.