Chancellor of the Exchequer

Chancellor of the Exchequer
Chancellor of the Exchequer
	Arms of Her Majesty's Government
	Incumbent; George Osborne; since 11 May 2010
	Her Majesty's Treasury
Style	The Right Honourable; as a member of the Privy Council
Residence	11 Downing Street; Westminster, London; United Kingdom
Appointer	HM The Queen; on advice of the Prime Minister
Inaugural holder	Hervey de Stanton ; (England only)
Formation	22 June 1316

The Chancellor of the Exchequer is the title held by the British Cabinet minister who is responsible for all economic and financial matters. Often simply called the Chancellor, the office-holder controls HM Treasury and plays a role akin to the posts of Minister of Finance or Secretary of the Treasury in other nations. The position is considered one of the four Great Offices of State and in recent times has come to be the most powerful office in British politics after the Prime Minister. It is the only office of the four Great Offices not to have been occupied by a woman.

The Chancellor of the Exchequer is now always Second Lord of the Treasury as one of the Lords Commissioners for executing the office of Lord High Treasurer. In the 18th and early 19th centuries it was common for the Prime Minister to also serve as Chancellor of the Exchequer if he sat in the Commons; the last Chancellor who was simultaneously Prime Minister & Chancellor of the Exchequer was Stanley Baldwin in 1923. Formerly, in cases when the Chancellorship was vacant, the Lord Chief Justice of the King's Bench would act as Chancellor pro tempore.^[1] The last Lord Chief Justice to serve in this way was Lord Denman in 1834.

The Chancellor is the third-oldest major state office in English and British history,^{[citation needed]} one which originally carried responsibility for the Exchequer, the medieval English institution for the collection of royal revenues. The Exchequer dates from the time of Henry I. The Chancellor controlled monetary policy as well as fiscal policy until 1997, when the Bank of England was granted independent control of its interest rates. The Chancellor also has oversight of public spending across Government departments.

The office should not be confused with those of the Lord Chancellor or the Chancellor of the Duchy of Lancaster, both Cabinet posts, the Chancellor of the High Court, a senior judge, or the Lord Chief Baron of the Exchequer, a defunct judicial office.

The current Chancellor of the Exchequer is George Osborne.

Roles and responsibilities

A previous Chancellor, Robert Lowe, described the office in the following terms in the House of Commons, on 11 April 1870: "The Chancellor of the Exchequer is a man whose duties make him more or less of a taxing machine. He is entrusted with a certain amount of misery which it is his duty to distribute as fairly as he can."

Fiscal policy

The Chancellor has considerable control over other departments as it is the Treasury which sets departmental expenditure limits. The amount of power this gives to an individual Chancellor depends on his personal forcefulness, his status with his party and his relationship with the Prime Minister. Gordon Brown, who became Chancellor when Labour came into Government in 1997, had a large personal power base in the party. Perhaps as a result, Tony Blair chose to keep him in his job throughout his ten years as Prime Minister; making Brown an unusually dominant figure and the longest serving Chancellor since the Reform Act of 1832.^[2] This situation has strengthened a pre-existing trend towards the Chancellorship moving into a clear second among government offices, elevated above its traditional peers, the Foreign Secretaryship and Home Secretaryship.

One part of the Chancellor's key roles involves the framing of the annual Budget, which is summarised in a speech to the House of Commons. Traditionally the budget speech was delivered on Budget Day, a Tuesday (although not always) in March, as Britain's tax year follows the Julian Calendar. From 1993, the Budget was preceded by an annual 'Autumn Statement', now called the Pre-Budget Report, which forecasts government spending in the next year and usually takes place in November or December. This preview of the next year's Budget is also referred to as the "mini-Budget". The 1997, 2001, 2002, 2003, 2006, 2007, 2008 and 2012 Budgets were all delivered on a Wednesday.

Monetary policy

Although the Bank of England is responsible for setting interest rates, the Chancellor also plays an important part in the monetary policy structure. He sets the inflation target which the Bank must set interest rates to meet. Under the Bank of England Act 1998 the Chancellor has the power of appointment of four out of nine members of the Bank's Monetary Policy Committee - the so-called 'external' members. He also has a high level of influence over the appointment of the Bank's Governor and Deputy Governors, and has the right of consultation over the appointment of the two remaining MPC members from within the Bank.^[3] The Act also provides that the Government has the power to give instructions to the Bank on interest rates for a limited period in extreme circumstances. This power has never been used.

Ministerial arrangements

At HM Treasury the Chancellor is supported by a political team of four junior ministers and by permanent civil servants. The most important junior minister is the Chief Secretary to the Treasury, a member of the Cabinet, to whom the negotiations with other government departments on the details of government spending are delegated, followed by the Paymaster General, the Financial Secretary to the Treasury and the Economic Secretary to the Treasury. Two other officials are given the title of a Secretary to the Treasury, although neither is a government minister in the Treasury: the Parliamentary Secretary to the Treasury is the Government Chief Whip in the House of Commons; the Permanent Secretary to the Treasury is not a minister but the senior civil servant in the Treasury.

The holder of the office of Chancellor is ex-officio Second Lord of the Treasury. As Second Lord, his official residence is Number 11 Downing Street in London, next door to the residence of the First Lord of the Treasury (a post usually, though not always, held by the Prime Minister), who resides in 10 Downing Street. While in the past both houses were private residences, today they serve as interlinked offices, with the occupant living in a small apartment made from attic rooms previously resided in by servants.

The Chancellor is obliged to be a member of the Privy Council, and thus is styled the Right Honourable (Rt. Hon.). Because the House of Lords is excluded from Finance bills, the office is effectively limited to members of the House of Commons.

Perquisites of office

Official residence

The Chancellor's official residence is No. 11 Downing Street. In 1997, the then First and Second Lords, Tony Blair and Gordon Brown respectively, swapped apartments, as the Chancellor's apartment in No. 11 was bigger and thus better suited to the needs of Blair (who had children) than Brown who was at that stage unmarried. So although No. 11 was still officially Brown's residence, he actually resided in the apartment in the attic of No. 10, and Blair — although officially residing in No. 10 — actually lived in the attic apartment of No. 11.

Dorneywood

Dorneywood is the summer residence that is traditionally made available to the Chancellor, though it is the Prime Minister who ultimately decides who may use it. Gordon Brown, on becoming Chancellor in 1997, refused to use it and the house, which is set in 215 acres (87 ha)^[4] of parkland, was allocated to Deputy Prime Minister John Prescott. It reverted to the Chancellor in 2007, then Alistair Darling.^[5]

Budget box

The Chancellor traditionally carries his Budget speech to the House of Commons in a particular red briefcase. The Chancellor's red briefcase is identical to the briefcases used by all other government ministers (known as ministerial boxes or "red boxes") to transport their official papers but is better known because the Chancellor traditionally displays the briefcase, containing the Budget speech, to the press in the morning before delivering the speech.

The original Budget briefcase was first used by William Ewart Gladstone in 1860 and continued in use until 1965 when James Callaghan was the first Chancellor to break with tradition when he used a newer box. Prior to Gladstone, a generic red briefcase of varying design and specification was used. The practice is said to have begun in the late 16th century, when Queen Elizabeth I's representative Francis Throckmorton presented the Spanish Ambassador, Bernardino de Mendoza, with a specially constructed red briefcase filled with black puddings.^{[citation needed]}

In July 1997, Gordon Brown became the second Chancellor to use a new box for the Budget. Made by industrial trainees at Babcock Rosyth Defence Ltd ship and submarine dockyard in Fife, the new box is made of yellow pine, with a brass handle and lock, covered in scarlet leather and embossed with the Royal initials and crest and the Chancellor's title. In his first Budget, in March 2008, Alistair Darling reverted to using the original budget briefcase and his successor, George Osborne, continued this tradition for his first budget, before announcing that it would be retired due to its fragile condition.^[6] The key to the original budget box has been lost.^[7]

Budget tipple

By tradition, the Chancellor has been allowed to drink whatever he or she wishes whilst making the annual Budget Speech to parliament. This includes alcohol, which is otherwise banned under parliamentary rules.

Previous Chancellors have opted for whisky (Kenneth Clarke), gin and tonic (Geoffrey Howe), brandy and water (Benjamin Disraeli), spritzer (Nigel Lawson) and sherry and beaten egg (William Gladstone).^[8]

The current Chancellor, George Osborne, like his two predecessors, Alistair Darling and Gordon Brown,^[9] opts for water. In fact Darling drank what was named "Standard Water" in reference to, and support of, the London Evening Standard newspaper's campaign to have plain tap water available in restaurants at no charge to customers.^[10]

List of Chancellors of the Exchequer

Colour key
(Politicians)

Whig

Tory

Conservative

Peelite/Whig

Liberal

Liberal Unionist

Labour

National Labour

National Liberal

National

(Governments)

Single party government

Coalition government

Chancellors of the Exchequer of England, c.1234-c.1558

Name	Took office	Left office
Eustace of Fauconberg (Bishop of London)	c.1221
John Maunsell	1234
Ralf de Leicestre	temp Henry III	1248
Edward of Westminster	1248
Albric de Fiscamp	temp Henry III
Godfrey Giffard	1266	1268
Roger de la Leye	temp Henry III (c.1276)
Geoffrey de Neuband	temp Edward I
Philip de Willoughby	1283	1305
John Benstead	1305	1306
John Sandale (Bishop of Winchester)	1307	1308
John of Markenfield	1309	1312
John Hotham (Bishop of Ely)	1312	1316
Hervey de Stanton	1316
Walter of Stapeldon	1323
Hervey de Stanton	1324	1327
Adam de Harvington (or Herwynton)	1327	1330
Robert Wodehouse	1330	1331
Robert de Stratford (Bishop of Chichester)	1331	1334
John Hildesle	c.1338
William de Everdon	1341
William Ashby (Archdeacon of Northampton)	1363
Sir Robert de Ashton	1375	1377
John Somerseth	1441	1447
Thomas Browne	?1440	?1450
Thomas Witham	1454
Thomas Thwaites	1461
Thomas Witham	1465	1469
Richard Fowler	1469	1471
Thomas Thwaites	1471	1483
William Catesby	1483
Sir Thomas Lovell	1485	1524
John Bourchier, 2nd Baron Berners	1524	?1533
Thomas Cromwell, 1st Earl of Essex	1533	1540
Sir John Baker	1545	1558

Chancellors of the Exchequer of England, c. 1558-1708

Name	Took office	Left office
Sir Richard Sackville	c. 1559	1566
Sir Walter Mildmay	1566	1589
Sir John Fortescue	1589	1603
The Earl of Dunbar	1603	1606
Sir Julius Caesar	1606	1614
Sir Fulke Greville	1614	1621
Sir Richard Weston	1621	1628
The Lord Barrett of Newburgh	1628	1629
Francis Cottington, Lord Cottington from 1631	1629	1642
Sir John Colepeper MP	2 January 1642	22 February 1643^[11]
Sir Edward Hyde	February 1643^[12]	1646
The Lord Ashley	13 May 1661	22 November 1672
Sir John Duncombe MP	22 November 1672	2 May 1676
Sir John Ernle MP	2 May 1676	9 April 1689
The Lord Delamere	9 April 1689	18 March 1690
Richard Hampden MP	18 March 1690	10 May 1694
Charles Montagu MP	10 May 1694	2 June 1699
John Smith MP	2 June 1699	27 March 1701
Henry Boyle MP	27 March 1701	22 April 1708

Chancellors of the Exchequer of Great Britain, 1708–1817
Name		Portrait	Term of office		Political party		Prime Minister
style="background-color: Template:Whig (British political party)/meta/color" \|	Sir John Smith		22 April 1708	11 August 1710	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•
style="background-color: Template:Tory (British political party)/meta/color" \|	Robert Harley		11 August 1710	4 June 1711	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	•
style="background-color: Template:Tory (British political party)/meta/color" \|	Robert Benson		4 June 1711	21 August 1713	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|
style="background-color: Template:Tory (British political party)/meta/color" \|	Sir William Wyndham, Bt		21 August 1713	13 October 1714	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|
style="background-color: Template:Whig (British political party)/meta/color" \|	Sir Richard Onslow, Bt		13 October 1714	12 October 1715	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•
style="background-color: Template:Whig (British political party)/meta/color" \|	Robert Walpole		12 October 1715	15 April 1717	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•
style="background-color: Template:Whig (British political party)/meta/color" \|	The Viscount Stanhope	File:James Stanhope, 1st Earl Stanhope.jpg	15 April 1717	20 March 1718	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•
style="background-color: Template:Whig (British political party)/meta/color" \|	John Aislabie		20 March 1718	23 January 1721	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•
style="background-color: Template:Whig (British political party)/meta/color" \|	Sir John Pratt (interim - Lord Chief Justice of the King's Bench)		2 February 1721	3 April 1721	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•
style="background-color: Template:Whig (British political party)/meta/color" \|	Sir Robert Walpole		3 April 1721	12 February 1742	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	• •	style="background-color: Template:Whig (British political party)/meta/color" \|	Sir Robert Walpole
style="background-color: Template:Whig (British political party)/meta/color" \|	Samuel Sandys		12 February 1742	12 December 1743	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	The Earl of Wilmington
style="background-color: Template:Whig (British political party)/meta/color" \|	Henry Pelham^[13]		12 December 1743	8 March 1754	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	Henry Pelham
style="background-color: Template:Whig (British political party)/meta/color" \|	Sir William Lee (interim - Lord Chief Justice of the King's Bench)		8 March 1754	6 April 1754	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	rowspan=3 style="background-color: Template:Whig (British political party)/meta/color" \|	The Duke of Newcastle
style="background-color: Template:Whig (British political party)/meta/color" \|	Henry Bilson Legge		6 April 1754	25 November 1755	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|
style="background-color: Template:Whig (British political party)/meta/color" \|	Sir George Lyttelton, Bt		25 November 1755	16 November 1756	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|
style="background-color: Template:Whig (British political party)/meta/color" \|	Henry Bilson Legge		16 November 1756	13 April 1757	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	rowspan=2 style="background-color: Template:Whig (British political party)/meta/color" \|	The Duke of Devonshire
style="background-color: Template:Whig (British political party)/meta/color" \|	The Lord Mansfield (interim - Lord Chief Justice of the King's Bench)		13 April 1757	2 July 1757	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•		The Duke of Devonshire
style="background-color: Template:Whig (British political party)/meta/color" \|	Henry Bilson Legge		2 July 1757	19 March 1761	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	rowspan=2 style="background-color: Template:Whig (British political party)/meta/color" \|	The Duke of Newcastle
style="background-color: Template:Whig (British political party)/meta/color" \|	The Viscount Barrington (Held an Irish Peerage and sat in the House of Commons of Great Britain)		19 March 1761	29 May 1762	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•		The Duke of Newcastle
style="background-color: Template:Tory (British political party)/meta/color" \|	Sir Francis Dashwood, Bt		29 May 1762	16 April 1763	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	•	style="background-color: Template:Tory (British political party)/meta/color" \|	The Earl of Bute
style="background-color: Template:Whig (British political party)/meta/color" \|	George Grenville^[13]		16 April 1763	16 July 1765	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	George Grenville
style="background-color: Template:Whig (British political party)/meta/color" \|	William Dowdeswell		16 July 1765	2 August 1766	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	The Marquess of Rockingham
style="background-color: Template:Whig (British political party)/meta/color" \|	Charles Townshend^[14]		2 August 1766	4 September 1767 (died)	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	The Earl of Chatham
rowspan=2 style="background-color: Template:Tory (British political party)/meta/color" \|	Lord North^[13] (Held a courtesy title and sat in the Commons)		11 September 1767	27 March 1782	Tory	rowspan=2 style="background-color: Template:Tory (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	The Duke of Grafton
•			11 September 1767	27 March 1782	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	Lord North
style="background-color: Template:Whig (British political party)/meta/color" \|	Lord John Cavendish		27 March 1782	10 July 1782	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	The Marquess of Rockingham
style="background-color: Template:Whig (British political party)/meta/color" \|	William Pitt the Younger		10 July 1782	31 March 1783	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	The Earl of Shelburne
style="background-color: Template:Whig (British political party)/meta/color" \|	Lord John Cavendish		2 April 1783	19 December 1783	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	The Duke of Portland
style="background-color: Template:Tory (British political party)/meta/color" \|	William Pitt the Younger^[13]		19 December 1783	14 March 1801	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	•	style="background-color: Template:Tory (British political party)/meta/color" \|	William Pitt the Younger
style="background-color: Template:Tory (British political party)/meta/color" \|	Henry Addington^[13]		14 March 1801	10 May 1804	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	•	style="background-color: Template:Tory (British political party)/meta/color" \|	Henry Addington
style="background-color: Template:Tory (British political party)/meta/color" \|	William Pitt the Younger^[13]^[14]		10 May 1804	23 January 1806 (died)	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	•	style="background-color: Template:Tory (British political party)/meta/color" \|	William Pitt the Younger
style="background-color: Template:Whig (British political party)/meta/color" \|	Lord Henry Petty		5 February 1806	26 March 1807	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	Lord Grenville
rowspan=2 style="background-color: Template:Tory (British political party)/meta/color" \|	Spencer Perceval^[14]		26 March 1807	12 May 1812 (died)	Tory	rowspan=2 style="background-color: Template:Tory (British political party)/meta/color" \|	•	style="background-color: Template:Independent (politician)/meta/color" \|	The Duke of Portland
•	Spencer Perceval^[14]		26 March 1807	12 May 1812 (died)	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	Spencer Perceval
style="background-color: Template:Tory (British political party)/meta/color" \|	Nicholas Vansittart		12 May 1812	12 July 1817	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	•	style="background-color: Template:Tory (British political party)/meta/color" \|	Lord Liverpool
Chancellors of the Exchequer of the United Kingdom, 1817–1902
Although the Kingdoms of Great Britain and Ireland had been united by the Act of Union 1800 (39 & 40 Geo. III c. 67), the Exchequers of the two Kingdoms were not consolidated until 1817 under 56 Geo. III c. 98.^[15] For the holders of the Irish office before this date, see Irish Chancellor of the Exchequer.
Name		Portrait	Term of office		Political party		Prime Minister
style="background-color: Template:Tory (British political party)/meta/color" \|	Nicholas Vansittart		12 July 1817	31 January 1823	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	•	rowspan=2 style="background-color: Template:Tory (British political party)/meta/color" \|	Lord Liverpool
style="background-color: Template:Tory (British political party)/meta/color" \|	F. J. Robinson		31 January 1823	20 April 1827	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	•		Lord Liverpool
style="background-color: Template:Tory (British political party)/meta/color" \|	George Canning^[14]		20 April 1827	8 August 1827 (died)	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	•	style="background-color: Template:Tory (British political party)/meta/color" \|	George Canning
style="background-color: Template:Tory (British political party)/meta/color" \|	The Lord Tenterden (interim - Lord Chief Justice of the King's Bench)		8 August 1827	3 September 1827	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|		rowspan=2 style="background-color: Template:Tory (British political party)/meta/color" \|	The Viscount Goderich
style="background-color: Template:Tory (British political party)/meta/color" \|	John Charles Herries		3 September 1827	26 January 1828	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|			The Viscount Goderich
style="background-color: Template:Tory (British political party)/meta/color" \|	Henry Goulburn		26 January 1828	22 November 1830	Tory	style="background-color: Template:Tory (British political party)/meta/color" \|	•	style="background-color: Template:Tory (British political party)/meta/color" \|	The Duke of Wellington
rowspan=2 style="background-color: Template:Whig (British political party)/meta/color" \|	Viscount Althorp (Held a courtesy title and sat in the Commons)		22 November 1830	14 November 1834	Whig	rowspan=2 style="background-color: Template:British Whig Party/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	The Earl Grey
•			22 November 1830	14 November 1834	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	The Viscount Melbourne
style="background-color: Template:Whig (British political party)/meta/color" \|	The Lord Denman (interim - Lord Chief Justice of the King's Bench)		14 November 1834	15 December 1834	Whig	style="background-color: Template:British Whig Party/meta/color" \|	•	style="background-color: Template:Tory (British political party)/meta/color" \|	The Duke of Wellington
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Robert Peel, Bt		15 December 1834	8 April 1835	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Robert Peel, Bt
style="background-color: Template:Whig (British political party)/meta/color" \|	Thomas Spring Rice		18 April 1835	26 August 1839	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	rowspan=2 style="background-color: Template:Whig (British political party)/meta/color" \|	The Viscount Melbourne
style="background-color: Template:Whig (British political party)/meta/color" \|	Francis Baring		26 August 1839	30 August 1841	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•		The Viscount Melbourne
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Henry Goulburn		3 September 1841	27 June 1846	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Robert Peel, Bt
style="background-color: Template:Whig (British political party)/meta/color" \|	Sir Charles Wood, Bt		6 July 1846	21 February 1852	Whig	style="background-color: Template:Whig (British political party)/meta/color" \|	•	style="background-color: Template:Whig (British political party)/meta/color" \|	Lord John Russell
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Benjamin Disraeli		27 February 1852	17 December 1852	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	The Earl of Derby
style="background-color: Template:Peelite/meta/color" \|	William Ewart Gladstone		28 December 1852	28 February 1855	Peelite	style="background-color: Template:Peelite/meta/color" \|	•	style="background-color: Template:Peelite/meta/color" \|	The Earl of Aberdeen
style="background-color: Template:Whig (British political party)/meta/color" \|	Sir George Cornewall Lewis, Bt		28 February 1855	21 February 1858	Whig	style="background-color: Template:British Whig Party/meta/color" \|	•	style="background-color: Template:British Whig Party/meta/color" \|	The Viscount Palmerston
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Benjamin Disraeli		26 February 1858	11 June 1859	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	The Earl of Derby
rowspan=2 style="background-color: Template:Liberal Party (UK)/meta/color" \|	William Ewart Gladstone		18 June 1859	26 June 1866	Liberal	rowspan=2 style="background-color: Template:Liberal Party (UK)/meta/color" \|	•	style="background-color: Template:Liberal Party (UK)/meta/color" \|	The Viscount Palmerston
style="background-color: Template:Liberal Party (UK)/meta/color" \|	William Ewart Gladstone		18 June 1859	26 June 1866	Liberal	The Earl Russell	•
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Benjamin Disraeli		6 July 1866	29 February 1868	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	The Earl of Derby
style="background-color: Template:Conservative Party (UK)/meta/color" \|	George Ward Hunt		29 February 1868	1 December 1868	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	Benjamin Disraeli
style="background-color: Template:Liberal Party (UK)/meta/color" \|	Robert Lowe		9 December 1868	11 August 1873	Liberal	style="background-color: Template:Liberal Party (UK)/meta/color" \|	•	rowspan=2 style="background-color: Template:Liberal Party (UK)/meta/color" \|	William Ewart Gladstone
style="background-color: Template:Liberal Party (UK)/meta/color" \|	William Ewart Gladstone^[13]		11 August 1873	17 February 1874	Liberal	style="background-color: Template:Liberal Party (UK)/meta/color" \|	•		William Ewart Gladstone
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Stafford Northcote, Bt		21 February 1874	21 April 1880	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	Benjamin Disraeli
style="background-color: Template:Liberal Party (UK)/meta/color" \|	William Ewart Gladstone^[13]		28 April 1880	16 December 1882	Liberal	style="background-color: Template:Liberal Party (UK)/meta/color" \|	•	rowspan=2 style="background-color: Template:Liberal Party (UK)/meta/color" \|	William Ewart Gladstone
style="background-color: Template:Liberal Party (UK)/meta/color" \|	Hugh Childers		16 December 1882	9 June 1885	Liberal	style="background-color: Template:Liberal Party (UK)/meta/color" \|	•		William Ewart Gladstone
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Michael Hicks Beach, Bt		24 June 1885	28 January 1886	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	The Marquess of Salisbury
style="background-color: Template:Liberal Party (UK)/meta/color" \|	Sir William Vernon Harcourt		6 February 1886	20 July 1886	Liberal	style="background-color: Template:Liberal Party (UK)/meta/color" \|	•	style="background-color: Template:Liberal Party (UK)/meta/color" \|	William Ewart Gladstone
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Lord Randolph Churchill		3 August 1886	22 December 1886	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	The Marquess of Salisbury
style="background-color: Template:Liberal Unionist Party/meta/color" \|	George Goschen		14 January 1887	11 August 1892	Liberal Unionist	style="background-color: Template:Liberal Unionist Party/meta/color" \|	•		The Marquess of Salisbury
rowspan=2 style="background-color: Template:Liberal Party (UK)/meta/color" \|	Sir William Vernon Harcourt		18 August 1892	21 June 1895	Liberal	rowspan=2 style="background-color: Template:Liberal Party (UK)/meta/color" \|	•	style="background-color: Template:Liberal Party (UK)/meta/color" \|	William Ewart Gladstone
style="background-color: Template:Liberal Party (UK)/meta/color" \|	Sir William Vernon Harcourt		18 August 1892	21 June 1895	Liberal	The Earl of Rosebery	•
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Michael Hicks Beach, Bt		29 June 1895	11 August 1902	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	The Marquess of Salisbury
Chancellors of the Exchequer of the United Kingdom, 1902–present
Name		Portrait	Term of office		Political party		Prime Minister
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Charles Ritchie		11 August 1902	9 October 1903	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	Arthur Balfour
style="background-color: Template:Liberal Unionist Party/meta/color" \|	Austen Chamberlain		9 October 1903	4 December 1905	Liberal Unionist	style="background-color: Template:Liberal Unionist Party/meta/color" \|	•		Arthur Balfour
style="background-color: Template:Liberal Party (UK)/meta/color" \|	H. H. Asquith		10 December 1905	12 April 1908	Liberal	style="background-color: Template:Liberal Party (UK)/meta/color" \|	•	style="background-color: Template:Liberal Party (UK)/meta/color" \|	Sir Henry Campbell-Bannerman
style="background-color: Template:Liberal Party (UK)/meta/color" \|	David Lloyd George		12 April 1908	25 May 1915	Liberal	style="background-color: Template:Liberal Party (UK)/meta/color" \|	•	rowspan=2 style="background-color: Template:Liberal Party (UK)/meta/color" \|	H. H. Asquith
style="background-color: Template:Liberal Party (UK)/meta/color" \|	Reginald McKenna		25 May 1915	10 December 1916	Liberal	style="background-color: Template:Liberal Party (UK)/meta/color" \|	•		H. H. Asquith
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Andrew Bonar Law		10 December 1916	10 January 1919	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	rowspan=3 style="background-color: Template:Liberal Party (UK)/meta/color" \|	David Lloyd George
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Austen Chamberlain		10 January 1919	1 April 1921	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Robert Horne		1 April 1921	19 October 1922	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|
rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	Stanley Baldwin		27 October 1922	27 August 1923	Conservative	rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	Andrew Bonar Law
rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	Stanley Baldwin		27 October 1922	27 August 1923	Conservative	Stanley Baldwin
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Neville Chamberlain	File:Arthur-Neville-Chamberlain.jpg	27 August 1923	22 January 1924	Conservative	Stanley Baldwin		style="background-color: Template:Conservative Party (UK)/meta/color" \|
style="background-color: Template:Labour Party (UK)/meta/color" \|	Philip Snowden		22 January 1924	3 November 1924	Labour	style="background-color: Template:Labour Party (UK)/meta/color" \|	•	style="background-color: Template:Labour Party (UK)/meta/color" \|	Ramsay MacDonald
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Winston Churchill		6 November 1924	4 June 1929	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	Stanley Baldwin
style="background-color: Template:Labour Party (UK)/meta/color" \|	Philip Snowden		7 June 1929	24 August 1931	Labour	style="background-color: Template:Labour Party (UK)/meta/color" \|	•	style="background-color: Template:Labour Party (UK)/meta/color" \|	Ramsay MacDonald
style="background-color: Template:National Labour Party (UK)/meta/color" \|	Philip Snowden		24 August 1931	5 November 1931	National Labour	style="background-color: Template:National Labour Party (UK)/meta/color" \|	•	rowspan=2 style="background-color: Template:National Labour Party (UK)/meta/color" \|
rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	Neville Chamberlain	File:Arthur-Neville-Chamberlain.jpg	5 November 1931	28 May 1937	Conservative	rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	•
•	Neville Chamberlain	File:Arthur-Neville-Chamberlain.jpg	5 November 1931	28 May 1937	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	Stanley Baldwin
style="background-color: Template:National Liberal Party (UK, 1931)/meta/color" \|	Sir John Simon		28 May 1937	12 May 1940	Liberal National	style="background-color: Template:National Liberal Party (UK, 1931)/meta/color" \|	• •	style="background-color: Template:Conservative Party (UK)/meta/color" \|	Neville Chamberlain
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Kingsley Wood^[14]		12 May 1940	21 September 1943 (died)	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	• •	rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	Winston Churchill
style="background-color: Template:National Government (United Kingdom)/meta/color" \|	Sir John Anderson		24 September 1943	26 July 1945	National Independent	style="background-color: Template:National Government (United Kingdom)/meta/color" \|	• •		Winston Churchill
style="background-color: Template:Labour Party (UK)/meta/color" \|	Hugh Dalton		27 July 1945	13 November 1947	Labour	style="background-color: Template:Labour Party (UK)/meta/color" \|	•	rowspan=3 style="background-color: Template:Labour Party (UK)/meta/color" \|	Clement Attlee
style="background-color: Template:Labour Party (UK)/meta/color" \|	Sir Stafford Cripps		13 November 1947	19 October 1950	Labour	style="background-color: Template:Labour Party (UK)/meta/color" \|
style="background-color: Template:Labour Party (UK)/meta/color" \|	Hugh Gaitskell	File:HughGaitskell2.jpg	19 October 1950	26 October 1951	Labour	style="background-color: Template:Labour Party (UK)/meta/color" \|
style="background-color: Template:Conservative Party (UK)/meta/color" \|	R. A. Butler	File:RA Butler by Stoneman.jpg	26 October 1951	20 December 1955	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Winston Churchill
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Harold Macmillan	File:Macmillan cph.3b40592.jpg	20 December 1955	13 January 1957	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Anthony Eden
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Peter Thorneycroft		13 January 1957	6 January 1958	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	rowspan=4 style="background-color: Template:Conservative Party (UK)/meta/color" \|	Harold Macmillan
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Derick Heathcoat-Amory		6 January 1958	27 July 1960	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Selwyn Lloyd		27 July 1960	13 July 1962	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|
rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	Reginald Maudling		13 July 1962	16 October 1964	Conservative	rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Reginald Maudling		13 July 1962	16 October 1964	Conservative	Sir Alec Douglas-Home
style="background-color: Template:Labour Party (UK)/meta/color" \|	James Callaghan		16 October 1964	30 November 1967	Labour	style="background-color: Template:Labour Party (UK)/meta/color" \|	•	rowspan=2 style="background-color: Template:Labour Party (UK)/meta/color" \|	Harold Wilson
style="background-color: Template:Labour Party (UK)/meta/color" \|	Roy Jenkins		30 November 1967	19 June 1970	Labour	style="background-color: Template:Labour Party (UK)/meta/color" \|	•		Harold Wilson
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Iain Macleod^[14]		20 June 1970	20 July 1970 (died)	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	Edward Heath
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Anthony Barber		25 July 1970	28 February 1974	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•		Edward Heath
rowspan=2 style="background-color: Template:Labour Party (UK)/meta/color" \|	Denis Healey		1 March 1974	4 May 1979	Labour	rowspan=2 style="background-color: Template:Labour Party (UK)/meta/color" \|	•	style="background-color: Template:Labour Party (UK)/meta/color" \|	Harold Wilson
style="background-color: Template:Labour Party (UK)/meta/color" \|	Denis Healey		1 March 1974	4 May 1979	Labour	James Callaghan	•
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir Geoffrey Howe		4 May 1979	11 June 1983	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	rowspan=3 style="background-color: Template:Conservative Party (UK)/meta/color" \|	Margaret Thatcher
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Nigel Lawson		11 June 1983	26 October 1989	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Sir John Major		26 October 1989	28 November 1990	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Norman Lamont		28 November 1990	27 May 1993	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	rowspan=2 style="background-color: Template:Conservative Party (UK)/meta/color" \|	John Major
style="background-color: Template:Conservative Party (UK)/meta/color" \|	Kenneth Clarke		27 May 1993	2 May 1997	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•		John Major
style="background-color: Template:Labour Party (UK)/meta/color" \|	Gordon Brown		2 May 1997	27 June 2007	Labour	style="background-color: Template:Labour Party (UK)/meta/color" \|	•	style="background-color: Template:Labour Party (UK)/meta/color" \|	Tony Blair
style="background-color: Template:Labour Party (UK)/meta/color" \|	Alistair Darling		28 June 2007	11 May 2010	Labour	style="background-color: Template:Labour Party (UK)/meta/color" \|	•	style="background-color: Template:Labour Party (UK)/meta/color" \|	Gordon Brown
style="background-color: Template:Conservative Party (UK)/meta/color" \|	George Osborne		11 May 2010	Incumbent	Conservative	style="background-color: Template:Conservative Party (UK)/meta/color" \|	•	style="background-color: Template:Conservative Party (UK)/meta/color" \|	David Cameron

Notes and references

^ Joseph Haydn, Horace Ockerby (ed.): The Book of Dignities, 3rd edition, Part III (Political and Official), p. 164. W.H. Allen & Co., London 1894, reprinted by Firecrest Publishing Ltd, Pancakes, 1969
^ "Gordon Brown: Encyclopedia II - Gordon Brown - Chancellor of the Exchequer". Experiencefestival.com. Retrieved 2 May 2010.
^ "Monetary Policy | Monetary Policy Committee (MPC) | Framework". Bank of England. 6 May 1997. Retrieved 2 May 2010.
^ Burnham Parish Council - Local History
^ [1]^{[dead link]}
^ The Guardian, 11 March 2011
^ Alistair Darling, Back from the Brink(2011)
^ "UK Parliament - budget". Parliament.uk. Retrieved 2 May 2010.
^ Lydall, Ross (6 March 2008). "Chancellor names his preferred Budget tipple – a glass of plain London tap water". The Scotsman. The Scotsman. Retrieved 2 May 2010.
^ Murphy, Joe (5 March 2008). "Darling chooses tap water for Budget Day to support Standard campaign". London Evening Standard. Retrieved 9 February 2012.
^ DNB
^ DNB
^ ^a ^b ^c ^d ^e ^f ^g ^h Also served as Prime Minister for some or all of their Chancellorship.
^ ^a ^b ^c ^d ^e ^f Died in office.
^ Joseph Haydn, Horace Ockerby (ed.): The Book of Dignities, 3rd edition, Part X (Ireland), p. 562. W.H. Allen & Co., London 1894, reprinted by Firecrest Publishing Ltd, Bath, 1969

External links

[1] Joseph Haydn, Horace Ockerby (ed.): The Book of Dignities, 3rd edition, Part III (Political and Official), p. 164. W.H. Allen & Co., London 1894, reprinted by Firecrest Publishing Ltd, Pancakes, 1969

[2] "Gordon Brown: Encyclopedia II - Gordon Brown - Chancellor of the Exchequer". Experiencefestival.com. Retrieved 2 May 2010.

[3] "Monetary Policy | Monetary Policy Committee (MPC) | Framework". Bank of England. 6 May 1997. Retrieved 2 May 2010.

[4] Burnham Parish Council - Local History

[5] [1]^{[dead link]}

[6] The Guardian, 11 March 2011

[7] Alistair Darling, Back from the Brink(2011)

[8] "UK Parliament - budget". Parliament.uk. Retrieved 2 May 2010.

[9] Lydall, Ross (6 March 2008). "Chancellor names his preferred Budget tipple – a glass of plain London tap water". The Scotsman. The Scotsman. Retrieved 2 May 2010.

[test-10] Murphy, Joe (5 March 2008). "Darling chooses tap water for Budget Day to support Standard campaign". London Evening Standard. Retrieved 9 February 2012.

[11] DNB

[12] DNB

[alsopm-13] ^ ^a ^b ^c ^d ^e ^f ^g ^h Also served as Prime Minister for some or all of their Chancellorship.

[died-14] ^ ^a ^b ^c ^d ^e ^f Died in office.

[15] Joseph Haydn, Horace Ockerby (ed.): The Book of Dignities, 3rd edition, Part X (Ireland), p. 562. W.H. Allen & Co., London 1894, reprinted by Firecrest Publishing Ltd, Bath, 1969

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v t e Chancellors of the Exchequer
of England	Eustace of Fauconberg Maunsell Leicester Westminster Chishull W. Giffard G. Giffard Chishull de la Leye Willoughby Benstead Sandale Hotham Stanton Harvington Wodehouse Stratford Ashby Ashton Barnham Somer Somerset Browne Witham Thwaites Witham Fowler Catesby Lovell Berners Cromwell Baker Sackville Mildmay Fortescue Dunbar Caesar Greville Portland Barrett Cottington Colepeper Hyde Ashley Duncombe Ernle Delamer Hampden Montagu Smith Boyle
of Great Britain	Boyle Smith Harley Benson Wyndham Onslow Walpole Stanhope Aislabie Pratt Walpole Sandys Pelham Lee Bilson-Legge Lyttelton Bilson-Legge Mansfield Bilson-Legge Barrington Dashwood Grenville Dowdeswell Townshend North Cavendish Pitt Cavendish Pitt Addington Pitt Ellenborough Petty Perceval Vansittart
of the United Kingdom	Vansittart Robinson Canning Tenterden Herries Goulburn Althorp Denman Peel Spring Rice Baring Goulburn Wood Disraeli Gladstone Lewis Disraeli Gladstone Disraeli Hunt Lowe Gladstone Northcote Gladstone Childers Hicks Beach Harcourt R. Churchill Goschen Harcourt Hicks Beach Ritchie A. Chamberlain Asquith Lloyd George McKenna Law A. Chamberlain Horne Baldwin N. Chamberlain Snowden W. Churchill Snowden N. Chamberlain Simon Wood Anderson Dalton Cripps Gaitskell Butler Macmillan Thorneycroft Heathcoat-Amory Lloyd Maudling Callaghan Jenkins Macleod Barber Healey Howe Lawson Major Lamont Clarke Brown Darling Osborne Hammond Javid Sunak Zahawi Kwarteng Hunt Reeves
Italic: Interim Chancellor of the Exchequer, as Lord Chief Justice

v t e Ministers of HM Treasury
Cabinet ministers	Keir Starmer (First Lord of the Treasury and Prime Minister) Rachel Reeves (Second Lord of the Treasury and Chancellor of the Exchequer)
* also attending Cabinet

v t e HM Treasury
Headquarters: 1, Horse Guards Road
Ministers	First Lord of the Treasury Chancellor of the Exchequer / Second Lord of the Treasury Chief Secretary to the Treasury Parliamentary Secretary to the Treasury* Paymaster General Financial Secretary to the Treasury Economic Secretary to the Treasury & City Minister Exchequer Secretary to the Treasury Commercial Secretary to the Treasury Lords Commissioners of the Treasury*
Civil Service	Permanent Secretary to the Treasury
Non-ministerial departments	Government Actuary's Department National Savings and Investments
Executive agencies	Debt Management Office Commissioners for the Reduction of the National Debt Government Internal Audit Agency National Infrastructure Commission
Executive non-departmental public bodies	Office for Budget Responsibility
Other bodies	Crown Estate Infrastructure and Projects Authority Reclaim Fund Royal Mint UK Government Investments National Wealth Fund
Topics	Autumn Budget Budget day Spring Statement
Offices in italics are not currently in use * Sinecure offices nominally associated with the Treasury de facto held by Government Whips