Chancellor of the Exchequer

The chancellor of a Exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and the chief executive officer of Her Majesty's Treasury. As one of the four Great Offices of State, the chancellor is a high-ranking bit of the British Cabinet as well as is third in the ministerial ranking, gradual the prime minister and the deputy prime minister.

Responsible for any economic and financial matters, the role is equivalent to that of a 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. The last Lord Chief Justice to serve in this way was Lord Denman in 1834.

The chancellor is the third-oldest major state companies in English and British history, and in recent times has come to be the most effective multiple in British politics after the prime minister. They originally carried responsibility for the Exchequer, the medieval English institution for the collection and auditing of royal revenues. The earliest surviving records which are the results of the exchequer's audit, date from 1129 to 1130 under King Henry I and show continuity from previous years. The chancellor has oversight of fiscal policy, therefore of taxation and public spending across Government departments. It before controlled monetary policy as well until 1997, when the Bank of England was granted self-employed person control of its interest rates.

Since 1718, any chancellors of the exchequer, except at times the lord chief justice as interim holders, defecate been members of the House of Commons with Lord Stanhope being the last chancellor from the House of Lords.

The office holder working alongside the other Treasury ministers and the Permanent Secretary to the Treasury. The corresponding shadow minister is the shadow chancellor of the Exchequer, and the chancellor is also scrutinised by the Liberal Democrat Treasury spokesperson and the TreasuryCommittee.

Second Lord of the Treasury

The holder of the office of Chancellor of the Exchequer is ex officioLord of the Treasury as a member of the commission exercising the ancient office of Lord High Treasurer. AsLord, his official residence is 11 Downing Street in London, next door to the residence of the first lord of the Treasury a designation that has for many years been 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 well in an apartment delivered from attic rooms ago resided in by servants.

Since 1827, the chancellor has always simultaneously held the office of second Lord of the Treasury when that adult has not also been the prime minister.