Chancellor of the Exchequer

The Chancellor of the Exchequer, often abbreviated to Chancellor,[3] is a senior minister of the Crown within the Government of the United Kingdom, and head of His Majesty's Treasury. As one of the four Great Offices of State, the chancellor is a high-ranking member of the British Cabinet.

United Kingdom
Chancellor of the Exchequer and Second Lord of the Treasury
Incumbent
Jeremy Hunt
since 14 October 2022
His Majesty's Treasury
StyleThe Chancellor
(informal)
The Right Honourable
(within the UK and Commonwealth)
TypeMinister of the Crown
StatusGreat Office of State
Member of
Reports toFirst Lord of the Treasury
(Prime Minister of the United Kingdom)
Residence11 Downing Street
SeatWestminster
NominatorThe Prime Minister
AppointerThe Monarch
(on the advice of the Prime Minister)
Term lengthAt His Majesty's pleasure
Formation22 June 1316
First holderHervey de Stanton
(in the Kingdom of England only)
DeputyChief Secretary to the Treasury
Salary£159,038 per annum (2022)[1]
(including £86,584 MP salary)[2]
WebsiteOfficial website

Responsible for all economic and financial matters, the role is equivalent to that of a finance minister in other countries. The chancellor is now always second lord of the Treasury as one of at least six lords commissioners of the Treasury, responsible for executing the office of the Treasurer of the Exchequer – the others are the prime minister and Commons government whips. In the 18th and early 19th centuries, it was common for the prime minister also to serve as Chancellor of the Exchequer if he sat in the Commons; the last Chancellor who was simultaneously prime minister and 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.[4] 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, and in recent times has come to be the most powerful office in British politics after the prime minister. It 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.[5] The chancellor has oversight of fiscal policy, therefore of taxation and public spending across government departments. It previously controlled monetary policy as well until 1997, when the Bank of England was granted independent control of its interest rates.

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

The office holder works 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 Treasury Select Committee.[6]

Jeremy Hunt has been the incumbent chancellor since 14 October 2022, being appointed by Liz Truss and retained in the role by Rishi Sunak.

Second Lord of the Treasury edit

The holder of the office of chancellor of the Exchequer is ex officio second lord of the Treasury as a member of the commission exercising the ancient office of treasurer of the Exchequer.[7] As second lord, his official residence is 11 Downing Street in London, next door to the residence of the first lord of the Treasury (a title 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 living in an apartment made from attic rooms previously resided in by servants.

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

Roles and responsibilities edit

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 edit

The chancellor has considerable control over other departments as it is the Treasury that sets Departmental Expenditure Limits. The amount of power this gives to an individual chancellor depends on their personal forcefulness, their status within their party and their 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 the same position throughout his ten years as prime minister; making Brown an unusually dominant figure and the longest-serving chancellor since the Reform Act of 1832.[8] This has strengthened a pre-existing trend towards the chancellor occupying a clear second position among government ministers, elevated above his traditional peers, the foreign secretary and home secretary.

One part of the chancellor's key roles involves the framing of the annual year budget. As of 2017, the first is the Autumn Budget, also known as Budget Day which forecasts government spending in the next financial year and also announces new financial measures. The second is a Spring Statement, also known as a "mini-Budget". Britain's tax year has retained the old Julian end of year: 24 March (Old Style) / 5 April (New Style, i.e. Gregorian). From 1993, the Budget was in spring, preceded by an annual autumn statement. This was then called Pre-Budget Report. The Autumn Statement usually took place in November or December. The 1997, 2001, 2002, 2003, 2006, 2007, 2008, 2012 and 2016 budgets were all delivered on a Wednesday, summarised in a speech to the House of Commons.

The budget is a state secret until the chancellor reveals it in his speech to Parliament. Hugh Dalton, on his way to giving the budget speech in 1947, inadvertently blurted out key details to a newspaper reporter, and they appeared in print before he made his speech. Dalton was forced to resign.[9]

Monetary policy edit

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.[10] 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 officially used.

Ministerial arrangements edit

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. Whilst not continuously in use, there can also be appointed a commercial secretary to the Treasury and an exchequer 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 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 financial matters by tradition confirmed by the Parliament Acts, the office is effectively limited to members of the House of Commons; apart from the occasions when the lord chief justice of the King's Bench has acted as interim Chancellor. The last peer to hold the office was Henry Booth, 2nd Baron Delamer (created Earl of Warrington shortly after leaving office) from 9 April 1689 to 18 March 1690. The chancellor holds the formerly independent office of Master of the Mint as a subsidiary office.[11]

Perquisites of the office edit

Official residence edit

The chancellor of the Exchequer has no official London residence as such but since 1828 in his role as Second Lord of the Treasury he lives in the second lord's official residence, No. 11 Downing Street.[12] 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 living with him, including one born during his tenure) than Brown who was at that stage unmarried.

Dorneywood edit

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)[13] of parkland, was allocated to Deputy Prime Minister John Prescott. It reverted to the chancellor in 2007, then Alistair Darling.[14]

Budget box edit

 
Budget box or Gladstone box, c. 1860

The chancellor traditionally carries his budget speech to the House of Commons in a particular red despatch box. The so-called ‘Budget Box’ is identical to the cases used by all other government ministers (known as ministerial boxes or "despatch boxes") to transport their official papers, but is better known because the chancellor traditionally displays the box, containing the budget speech, to the press before leaving 11 Downing Street for the House of Commons..

The original budget box was first used by William Ewart Gladstone in 1853 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 despatch box 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.[15]

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 cypher and crest and the chancellor's title. In his first Budget, in March 2008, Alistair Darling reverted to using the original budget box and his successor, George Osborne, continued this tradition for his first budget, before announcing that it would be retired due to its fragile condition.[16] The key to the original budget box has been lost.[17]

Budget tipple edit

By tradition, the chancellor has been allowed to drink whatever they wish while 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 and John Major), spritzer (Nigel Lawson) and sherry and beaten egg (William Gladstone).[18]

The recent chancellors, Philip Hammond, George Osborne, Alistair Darling and Gordon Brown,[19] opted 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.[20]

Robe of office edit

The chancellor, as Master of the Mint, has a robe of office,[21] similar to that of the lord chancellor (as seen in several of the portraits depicted below). In recent times, it has only regularly been worn at coronations, but some chancellors (at least until the 1990s) have also worn it when attending the Trial of the Pyx as Master of the Mint. According to George Osborne, the robe (dating from Gladstone's time in office, and worn by the likes of Lloyd George and Churchill)[22] 'went missing' during Gordon Brown's time as chancellor.[23]

List of chancellors of the Exchequer edit

Chancellors of the Exchequer of England (c. 1221c. 1558) edit

Chancellor of the Exchequer Term of office Monarch
(Reign)
  Eustace of Fauconberg
Bishop of London
c. 1221 Henry III
 
(1216–1272)
  John Maunsell
Secretary of State
c. 1234
Ralph de Leicester before 1248
Edward of Westminster 1248
Albric de Fiscamp before 1263
  John Chishull
Lord Chancellor[1221 1]
1263 1265
  Walter Giffard
Bishop of Bath and Wells
1265 1266
  Godfrey Giffard
Lord Chancellor
1266 1268
  John Chishull
Lord Chancellor
1268 1269
  Richard of Middleton
Archdeacon of Northumberland
1269 1272
Roger de la Leye before 1283
Geoffrey de Neuband Edward I
 
(1272–1307)
Philip de Willoughby 1283 1305
  John Benstead
Secretary of State
1305 1306
  John Sandale
Bishop of Winchester
c. July
1307
1308 Edward II
 
(1307–1327)
John of Markenfield 1309 1312
  John Hotham
Bishop of Ely
1312 1316
  Hervey de Stanton 1316 c. 1323
  Walter Stapledon
Lord High Treasurer
1323 c. 1324
  Hervey de Stanton
Chief Justice of the Common Pleas
1324 c. January
1327
  Adam de Harvington c. January
1327
1330 Edward III
 
(1327–1377)
[1221 2]
  Robert Wodehouse 1330 1331
  Robert de Stratford
Bishop of Chichester
1331 1334
John Hildesle c. 1338
William de Everdon 1341
William Askeby
Archdeacon of Northampton
1363
  Robert de Ashton 1375 c. June
1377
Sir Walter Barnham c. June
1377
c. September
1399
Richard II
 
(1377–1399)
  Henry Somer
MP for Middlesex
1410 1437 Henry IV
 
(1399–1413)
Henry V
 
(1413–1422)
Henry VI
 
(1422–1461)
[1221 3]
  John Somerset 1441 1447
  Thomas Browne
MP for Dover
1440? 1450?
  Thomas Witham 1454
  Thomas Thwaites c. March
1461
Edward IV
 
(1461–1470)
  Thomas Witham 1465 1469
Richard Fowler 1469 c. April
1471
Henry VI
 
(1470–1471)
  Thomas Thwaites
Chancellor of the Duchy of Lancaster
c. April
1471
c. April
1483
Edward IV
 
(1471–1483)
  William Catesby
Speaker of the House of Commons
c. April
1483
c. 1484 Edward V
 
(1483)
[1221 4]
Richard III
 
(1483–1485)
  Thomas Lovell
Speaker of the House of Commons[1221 5]
c. August
1485
1524 Henry VII
 
(1485–1509)
Henry VIII
 
(1509–1547)
[1221 6]
  John Bourchier
2nd Baron Berners
1524 1533?
  Thomas Cromwell
1st Earl of Essex

Secretary of State
12 April
1533
10 June
1540
John Baker
MP for Kent
1545 c. November
1558
 
Edward VI
 
(1547–1553)
[1221 7]
Mary I
 
(1553–1558)
^† Died in office.
  1. ^ Served until 1264.
  2. ^ Lord Lancaster served as Regent of England during the minority of Edward III.
  3. ^ The Regency government led by the Regency Council governed England during the minority of Henry VI.
  4. ^ The Duke of Gloucester served as Regent of England during the reign of Edward V.
  5. ^ Served until 1488.
  6. ^ Margaret Beaufort served as Regent of England during the minority of Henry VIII.
  7. ^ The Duke of Somerset and Duke of Northumberland served as Regent of England successively during the reign of Edward VI.

Chancellors of the Exchequer of England (c. 1558 – 1708) edit

Chancellor of the Exchequer[a] Term of office Monarch
(Reign)
  Richard Sackville[24]
MP for Sussex
February
1559
21 April
1566
Elizabeth I
 
(1558–1603)
  Walter Mildmay[24]
MP for Northamptonshire
1566 31 May
1589
  John Fortescue[24]
1589 1603
  George Home
1st Earl of Dunbar
[24]
24 May
1603
April
1606
James I
 
(1603–1625)
  Julius Caesar[24]
MP for Middlesex
11 April
1606
1614
  Fulke Greville[24]
MP for Warwickshire[1558 3]
15 October
1614
1621
  Richard Weston[24]
MP for 7 constituencies successively
29 January
1621
15 July
1628
Charles I
 
(1625–1649)
  Edward Barrett
1st Lord Barrett of Newburgh
[24]
14 August
1628
1629
  Francis Cottington
1st Baron Cottington
[24]
18 April
1629
6 January
1642
  John Colepeper[24]
MP for Kent
6 January
1642
22 February
1643
  Edward Hyde[24] February
1643
1646
Vacancy during the Interregnum (1649–1660)
Chancellor of the Exchequer[a] Term of office Ministry Monarch
(Reign)
  Edward Hyde
1st Baron Hyde
[24]
1660 13 May
1661
Clarendon Charles II
 
(1660–1685)
  Anthony Ashley Cooper
1st Baron Ashley
[24]
13 May
1661
22 November
1672
Cabal
  John Duncombe[24]
MP for Bury St Edmunds
22 November
1672
2 May
1676
Danby I
John Ernle[24]
MP for 4 constituencies successively
2 May
1676
9 April
1689
Privy Council
Chits
James II
 
(1685–1688)
William III
&
Mary II
 
(1689–1694)
  Henry Booth
2nd Baron Delamer
[24]
9 April
1689
18 March
1690
Carmarthen–Halifax
  Richard Hampden[24]
MP for Buckinghamshire
18 March
1690
10 May
1694
Carmarthen
  Charles Montagu[24]
10 May
1694
31 May
1699
Whig Junto I
William III
 
(1694–1702)
  John Smith[24]
MP for Andover
31 May
1699
23 March
1701
Pembroke
Henry Boyle[24]
27 March
1701
22 April
1708
  Godolphin–Marlborough
(ToryWhig)
Anne
 
(1702–1714)
  1. ^ Served until 1589 during the 9th Parliament of Queen Elizabeth I.
  2. ^ Served from 1601 prior to the Golden Speech.
  3. ^ Served during the 3rd Parliament of King James I in 1621.
  4. ^ Elected to a new constituency in the 1695 general election.
  5. ^ Elected to a new constituency in the 1705 general election.

Chancellors of the Exchequer of Great Britain (1708–1817) edit

Chancellor of the Exchequer[a] Term of office Party Ministry Monarch
(Reign)
  John Smith[24]
MP for Andover
22 April
1708
11 August
1710
Whig Godolphin–Marlborough
(ToryWhig)
Anne
 
(1702–1714)
  Robert Harley[24]
MP for Radnor
11 August
1710
4 June
1711
Tory Oxford–Bolingbroke
  Robert Benson[24]
MP for York
4 June
1711
21 August
1713
Tory
  William Wyndham[24]
MP for Somerset
21 August
1713
13 October
1714
Tory
George I
 
(1714–1727)
[1708 1]
  Richard Onslow[24]
MP for Surrey
13 October
1714
12 October
1715
Whig Townshend
  Robert Walpole[24]
MP for King's Lynn
12 October
1715
15 April
1717
Whig
  James Stanhope
1st Earl Stanhope
[24]
15 April
1717
20 March
1718
Whig Stanhope–Sunderland I
  John Aislabie[24]
MP for Ripon
20 March
1718
23 January
1721
Whig Stanhope–Sunderland II
  John Pratt[24]
Lord Chief Justice (interim)
2 February
1721
3 April
1721
Whig
  Robert Walpole
1st Earl of Orford
[24]
MP for King's Lynn[1708 2]
3 April
1721
12 February
1742
Whig Walpole–Townshend
George II
 
(1727–1760)
Walpole
  Samuel Sandys[24]
MP for Worcester
12 February
1742
12 December
1743
Whig Carteret
  Henry Pelham[24]
MP for Sussex
12 December
1743
8 March
1754
Whig
Broad Bottom
(I & II)
  William Lee[24]
Lord Chief Justice (interim)
8 March
1754
6 April
1754
Whig Newcastle I
  Henry Bilson-Legge[24]
MP for Orford
6 April
1754
25 November
1755
Whig
  George Lyttelton[24]
MP for Okehampton
25 November
1755
16 November
1756
Whig
  Henry Bilson-Legge[24]
MP for Orford
16 November
1756
13 April
1757
Whig Pitt–Devonshire
  William Murray
1st Earl of Mansfield
[24]
Lord Chief Justice (interim)
13 April
1757
2 July
1757
Whig
1757 Caretaker
  Henry Bilson-Legge[24]
2 July
1757
19 March
1761
Whig Pitt–Newcastle
George III
 
(1760–1820)
[1708 4]
  William Barrington
2nd Viscount Barrington
[24]
MP for Plymouth
19 March
1761
29 May
1762
Whig
  Francis Dashwood[24]
MP for Weymouth and Melcombe Regis
29 May
1762
16 April
1763
Tory Bute
(ToryWhig)
  George Grenville[24]
MP for Buckingham
16 April
1763
16 July
1765
Whig Grenville
(WhigTory)
  William Dowdeswell[24]
MP for Worcestershire
16 July
1765
2 August
1766
Whig Rockingham I
  Charles Townshend[24]
MP for Harwich
2 August
1766
4 September
1767
Whig Chatham
(WhigTory)
  Frederick North
Lord North
[24]
MP for Banbury
11 September
1767
27 March
1782
Tory
Grafton
North
  Lord John Cavendish[24]
MP for York
27 March
1782
10 July
1782
Whig Rockingham II
  William Pitt the Younger[24]
MP for Appleby
10 July
1782
31 March
1783
Whig Shelburne
(WhigTory)
  Lord John Cavendish[24]
MP for York
2 April
1783
19 December
1783
Whig Fox–North
  William Pitt the Younger[24]
19 December
1783
14 March
1801
Tory Pitt I
  Henry Addington[24]
MP for Devizes
14 March
1801
10 May
1804
Tory Addington
  William Pitt the Younger[24]
MP for Cambridge University
10 May
1804
23 January
1806
Tory Pitt II
  Edward Law
1st Baron Ellenborough
[24]
Lord Chief Justice (interim)
23 January
1806
5 February
1806
Tory All the Talents
(WhigTory)
  Lord Henry Petty-Fitzmaurice[24]
MP for Cambridge University
5 February
1806
26 March
1807
Whig
  Spencer Perceval[24]
MP for Northampton
26 March
1807
11 May
1812
Tory Portland II
Perceval
  Nicholas Vansittart[25]
9 June
1812
12 July
1817
Tory Liverpool
  1. ^ Lord Parker served as Regent of Great Britain from 1 August to 18 September 1714.
  2. ^ Elevated to the Peerage of Great Britain on 6 February 1742.
  3. ^ Elected to a new constituency in the Hampshire by-election.
  4. ^ The Prince of Wales served as prince regent from 5 February 1811.
  5. ^ Elected to a new constituency in the 1784 general election.
  6. ^ Elected to a new constituency in the 1812 general election.

Chancellors of the Exchequer of the United Kingdom (1817–present) edit

Although the Kingdoms of Great Britain and Ireland had been united by the Acts of Union 1800, the Exchequers of the two Kingdoms were not consolidated until 1817 under the Consolidated Fund Act 1816 (56 Geo. 3. c. 98).[26][27] For the holders of the Irish office before this date, see Chancellor of the Exchequer of Ireland.

Chancellor of the Exchequer[a] Term of office Party Ministry Monarch
(Reign)
  Nicholas Vansittart[24]
MP for Harwich
12 July 1817 31 January 1823 Tory Liverpool George III
 
(1760–1820)
[1817 1]
George IV
 
(1820–1830)
  Frederick John Robinson[28]
MP for Ripon
31 January 1823 27 April 1827 Tory
  George Canning[29]
MP for Seaford
27 April 1827 8 August 1827 Tory Canning
(CanningiteWhig)
  Charles Abbott
1st Baron Tenterden

Lord Chief Justice (interim)
8 August 1827 5 September 1827 Tory Goderich
  John Charles Herries[30]
MP for Harwich
5 September 1827 26 January 1828 Tory
  Henry Goulburn[24]
MP for Armagh
26 January 1828 22 November 1830 Tory Wellington–Peel
William IV
 
(1830–1837)
  John Spencer
Viscount Althorp
[24]
22 November 1830 14 November 1834 Whig Grey
Melbourne I
  Thomas Denman
1st Baron Denman

Lord Chief Justice (interim)
14 November 1834 15 December 1834 Whig Wellington Caretaker
  Robert Peel[24]
MP for Tamworth
15 December 1834 8 April 1835 Conservative Peel I
  Thomas Spring Rice[24]
MP for Cambridge
18 April 1835 26 August 1839 Whig Melbourne II
Victoria
 
(1837–1901)
  Francis Baring[24]
MP for Portsmouth
26 August 1839 30 August 1841 Whig
  Henry Goulburn[24]
MP for Cambridge University
3 September 1841 27 June 1846 Conservative Peel II
  Charles Wood[24]
MP for Halifax
6 July 1846 21 February 1852 Whig Russell I
  Benjamin Disraeli[24]
MP for Buckinghamshire
27 February 1852 17 December 1852 Conservative Who? Who?
  William Ewart Gladstone[24]
MP for Oxford University
28 December 1852 28 February 1855 Peelite Aberdeen
(PeeliteWhig)
  George Cornewall Lewis[24]
MP for Radnor
28 February 1855 21 February 1858 Whig Palmerston I
  Benjamin Disraeli[24]
MP for Buckinghamshire
26 February 1858 11 June 1859 Conservative Derby–Disraeli II
  William Ewart Gladstone[24]
18 June 1859 26 June 1866 Liberal Palmerston II
Russell II
  Benjamin Disraeli[24]
MP for Buckinghamshire
6 July 1866 29 February 1868 Conservative Derby–Disraeli III
  George Ward Hunt[24]
MP for North Northamptonshire
29 February 1868 1 December 1868 Conservative
  Robert Lowe[24]
MP for London University
9 December 1868 11 August 1873 Liberal Gladstone I
  William Ewart Gladstone[24]
MP for Greenwich
11 August 1873 17 February 1874 Liberal
  Stafford Northcote[24]
MP for North Devonshire
21 February 1874 21 April 1880 Conservative Disraeli II
  William Ewart Gladstone[24]
MP for Midlothian
28 April 1880 16 December 1882 Liberal Gladstone II
  Hugh Childers[24]
MP for Pontefract
16 December 1882 9 June 1885 Liberal
  Michael Hicks Beach[24]
MP for Bristol West
24 June 1885 28 January 1886 Conservative Salisbury I
  William Harcourt[24]
MP for Derby
6 February 1886 20 July 1886 Liberal Gladstone III
  Lord Randolph Churchill[24]
MP for Paddington South
3 August 1886 22 December 1886 Conservative Salisbury II
  George Goschen[24]
MP for St George Hanover Square
14 January 1887 11 August 1892 Liberal Unionist
  William Harcourt[24]
MP for Derby
18 August 1892 21 June 1895 Liberal Gladstone IV
Rosebery
  Michael Hicks Beach[24]
MP for Bristol West
29 June 1895 11 August 1902 Conservative Salisbury
(III & IV)

(Con.Lib.U.)
Edward VII
 
(1901–1910)
  Charles Ritchie[24]
MP for Croydon
11 August 1902 9 October 1903 Conservative Balfour
  Austen Chamberlain[24]
MP for East Worcestershire
9 October 1903 4 December 1905 Liberal Unionist
  Herbert Henry Asquith[24]
MP for East Fife
10 December 1905 16 April 1908 Liberal Campbell-Bannerman
  David Lloyd George[31]
MP for Caernarvon Boroughs
16 April 1908 25 May 1915 Liberal Asquith
(I–III)
George V
 
(1910–1936)
  Reginald McKenna[24]
MP for North Monmouthshire
25 May 1915 10 December 1916 Liberal Asquith Coalition
(Lib.Con.–et al.)
  Bonar Law[24]
10 December 1916 10 January 1919 Conservative Lloyd George
(I & II)
  Austen Chamberlain[24]
MP for Birmingham West
10 January 1919 1 April 1921 Conservative
  Robert Horne[24]
MP for Glasgow Hillhead
1 April 1921 19 October 1922 Conservative
  Stanley Baldwin[24]
MP for Bewdley
27 October 1922 27 August 1923 Conservative Law
Baldwin I
  Neville Chamberlain[24]
MP for Birmingham Ladywood
27 August 1923 22 January 1924 Conservative
  Philip Snowden[24]
MP for Colne Valley
22 January 1924 3 November 1924 Labour MacDonald I
  Winston Churchill[24]
MP for Epping
6 November 1924 4 June 1929 Conservative Baldwin II
  Philip Snowden[24]
MP for Colne Valley
7 June 1929 5 November 1931 Labour MacDonald II
National Labour National I
(N.Lab.Con.–et al.)
  Neville Chamberlain[24]
MP for Birmingham Edgbaston
5 November 1931 28 May 1937 Conservative National II
National III
(Con.N.Lab.–et al.)
Edward VIII
 
(1936)
George VI
 
(1936–1952)
  John Simon[24]
MP for Spen Valley
28 May 1937 12 May 1940 Liberal National National IV
Chamberlain War
  Kingsley Wood[24]
MP for Woolwich West
12 May 1940 21 September 1943 Conservative Churchill War
(All parties)
  John Anderson[24]
MP for Combined Scottish Universities
24 September 1943 26 July 1945 Independent
(National)
Churchill Caretaker
(Con.Lib.N.)
  Hugh Dalton[24]
MP for Bishop Auckland
27 July 1945 13 November 1947 Labour Attlee
(I & II)
  Stafford Cripps[24]
13 November 1947 19 October 1950 Labour
  Hugh Gaitskell[24]
MP for Leeds South
19 October 1950 26 October 1951 Labour
  Richard Austen Butler[24]
MP for Saffron Walden
26 October 1951 20 December 1955 Conservative Churchill III
Elizabeth II
 
(1952–2022)
Eden
  Harold Macmillan[24]
MP for Bromley
20 December 1955 13 January 1957 Conservative
  Peter Thorneycroft[24]
MP for Monmouth
13 January 1957 6 January 1958 Conservative Macmillan
(I & II)
  Derick Heathcoat-Amory[24]
MP for Tiverton
6 January 1958 27 July 1960 Conservative
  Selwyn Lloyd[24]
MP for Wirral
27 July 1960 13 July 1962 Conservative
Reginald Maudling[32]
MP for Barnet
16 July 1962 16 October 1964 Conservative
Douglas-Home
  James Callaghan[33]
MP for Cardiff South East
17 October 1964 29 November 1967 Labour Wilson
(I & II)
  Roy Jenkins[34]
MP for Birmingham Stechford
29 November 1967 19 June 1970 Labour
  Iain Macleod[24]
MP for Enfield West
20 June 1970 20 July 1970 Conservative Heath
Anthony Barber[24]
MP for Altrincham and Sale
25 July 1970 4 March 1974 Conservative
  Denis Healey[24]
MP for Leeds East
5 March 1974 4 May 1979 Labour Wilson
(III & IV)
Callaghan
  Geoffrey Howe[24]
MP for East Surrey
4 May 1979 11 June 1983 Conservative Thatcher I
  Nigel Lawson[24]
MP for Blaby
11 June 1983 26 October 1989 Conservative Thatcher II
Thatcher III
  John Major[24]
MP for Huntingdon
26 October 1989 28 November 1990 Conservative
  Norman Lamont[24]
MP for Kingston-upon-Thames
28 November 1990 27 May 1993 Conservative Major I
Major II
  Kenneth Clarke[24]
MP for Rushcliffe
27 May 1993 2 May 1997 Conservative
  Gordon Brown[24]
2 May 1997 27 June 2007 Labour Blair
(I, II & III)
  Alistair Darling[35]
MP for Edinburgh South West
28 June 2007 11 May 2010 Labour Brown
  George Osborne[36]
MP for Tatton
11 May 2010 13 July 2016 Conservative Cameron–Clegg
(Con.L.D.)
Cameron II
  Philip Hammond[37]
MP for Runnymede and Weybridge
13 July 2016 24 July 2019 Conservative May I
May II
  Sajid Javid[38][39]
MP for Bromsgrove
24 July 2019 13 February 2020 Conservative Johnson I
Johnson II
  Rishi Sunak[40]
MP for Richmond (Yorks)
13 February 2020 5 July 2022 Conservative
  Nadhim Zahawi[41]
MP for Stratford-on-Avon
5 July 2022 6 September 2022 Conservative
  Kwasi Kwarteng[42]
MP for Spelthorne
6 September 2022 14 October 2022 Conservative Truss
Charles III
 
(2022–present)
  Jeremy Hunt[43][44]
MP for South West Surrey
14 October 2022 Incumbent Conservative
Sunak
  1. ^ The Prince of Wales served as prince regent from 5 February 1811.
  2. ^ Elected to a new constituency in the 1832 general election.
  3. ^ Elected to a new constituency in the 1865 general election.
  4. ^ Elected to a new constituency in the 1918 general election.
  5. ^ Elected to a new constituency in the 1950 general election.
  6. ^ Elected to a new constituency in the 2005 general election.

Timeline edit

1817–present edit

Jeremy HuntKwasi KwartengNadhim ZahawiRishi SunakSajid JavidPhilip HammondGeorge OsborneAlistair DarlingGordon BrownKenneth ClarkeNorman LamontJohn MajorNigel LawsonGeoffrey HoweDenis HealeyAnthony BarberIain MacleodRoy JenkinsJames CallaghanReginald MaudlingSelwyn LloydDerick Heathcoat-AmoryPeter ThorneycroftHarold MacmillanRab ButlerHugh GaitskellStafford CrippsHugh DaltonJohn Anderson, 1st Viscount WaverleyKingsley WoodJohn Simon, 1st Viscount SimonWinston ChurchillPhilip SnowdenNeville ChamberlainStanley BaldwinRobert Horne, 1st Viscount Horne of SlamannanBonar LawReginald McKennaDavid Lloyd GeorgeH. H. AsquithAustin ChamberlainCharles Ritchie, 1st Baron Ritchie of DundeeGeorge Goschen, 1st Viscount GoschenLord Randolph ChurchillWilliam Hardcourt (politician)Michael Hicks Beach, 1st Earl St AldwynHugh ChildersStafford NorthcoteRobert LoweGeorge Ward HuntGeorge Cornewall LewisWilliam Ewart GladstoneBenjamin DisraeliCharles Wood, 1st Viscount HalifaxFrancis Baring, 1st Baron NorthbrookThomas Spring Rice, 1st Baron Monteagle of BrandonRobert PeelThomas Denman, 1st Baron DenmanJohn Spencer, 3rd Earl SpencerHenry GoulburnJohn Charles HerriesCharles Abbott, 1st Baron TenterdenGeorge CanningFrederick John RobinsonNicholas Vansittart

See also edit

Notes edit

  1. ^ a b c d Including constituencies for elected MPs.

References edit

  1. ^ "Salaries of Members of His Majesty's Government – Financial Year 2022–23" (PDF). 15 December 2022.
  2. ^ "Pay and expenses for MPs". parliament.uk. Retrieved 15 December 2022.
  3. ^ Martin, Ben (13 July 2016). "Who is Philip Hammond, Britain's new Chancellor, and what are likely to be his first steps?". The Telegraph. Archived from the original on 11 January 2022 – via www.telegraph.co.uk.
  4. ^ 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.
  5. ^ Chrimes, Administrative History, pp. 62–63.
  6. ^ "George Osborne gives evidence on Budget to the Treasury Select Committee". ITV.COM. Retrieved 25 April 2022. Chancellor of the Exchequer George Osborne gives evidence to the Treasury Select Committee.
  7. ^ Sainty, John Christopher (1972). Office-Holders in Modern Britain: Volume 1, Treasury Officials 1660–1870. London: University of London. pp. 16–25. ISBN 0485171414. Retrieved 19 October 2021.
  8. ^ "Gordon Brown: Chancellor of the Exchequer". Encyclopedia II. Experiencefestival.com. Archived from the original on 2 November 2012. Retrieved 2 May 2010.
  9. ^ Ben Pimlott, Hugh Dalton (1985) pp 524–48.
  10. ^ "Monetary Policy | Monetary Policy Committee (MPC) | Framework". Bank of England. 6 May 1997. Archived from the original on 8 May 2010. Retrieved 2 May 2010.
  11. ^ Owen, James (19 December 2012). "Sir Isaac Newton – did you know?". The Royal Mint. Archived from the original on 1 June 2017. Retrieved 6 June 2017.
  12. ^ "History of Number 11 Downing Street". UK Government. Retrieved 16 October 2014.
  13. ^ "Local History". Burnham Parish Council. Archived from the original on 1 October 2011.
  14. ^ "Reluctant Chancellor makes a move to keep his mansion out of reach". Archived from the original on 5 June 2011. Retrieved 24 March 2010.
  15. ^ "What is the Budget Box? Why is it red?". Birmingham Mail. 27 October 2021. Retrieved 4 February 2022.
  16. ^ "Bye-bye budget box, hello backpack". The Guardian. 21 March 2011.
  17. ^ Alistair Darling, Back from the Brink(2011)
  18. ^ "The Budget and Parliament". Parliament of the United Kingdom. Retrieved 8 November 2015.
  19. ^ Lydall, Ross (6 March 2008). "Chancellor names his preferred Budget tipple – a glass of plain London tap water". The Scotsman. Retrieved 2 May 2010.
  20. ^ Murphy, Joe (5 March 2008). "Darling chooses tap water for Budget Day to support Standard campaign". London Evening Standard. Retrieved 9 February 2012.
  21. ^ "Photographb". Archived from the original on 18 February 2015. Retrieved 18 February 2015.
  22. ^ "Portrait of Churchill in the robes of wearing his robes as Chancellor of the Exchequer, by John Singer Sargent, 1929. © National Trust Collections". 4 December 2012.
  23. ^ Vina, Gonzalo (10 December 2010). "www.bloomberg.com". Bloomberg.
  24. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa ab ac ad ae af ag ah ai aj ak al am an ao ap aq ar as at au av aw ax ay az ba bb bc bd be bf bg bh bi bj bk bl bm bn bo bp bq br bs bt bu bv bw bx by bz ca cb cc cd ce cf cg ch ci cj ck cl cm cn co cp cq cr cs ct cu cv cw cx cy cz da db dc dd de df dg dh "Past Chancellors of the Exchequer". gov.uk. Government of the United Kingdom. Retrieved 7 September 2017.
  25. ^ "No. 16611". The London Gazette. 9 June 1812. p. 1111.
  26. ^ "Consolidated Fund Act 1816". section 2, Act No. 98 of 1816. Retrieved 18 November 2016.
  27. ^ Haydn, Joseph; Ockerby, Horace, eds. (1890). "X (Ireland)". The Book of Dignities. London: W. H. Allen & Co. p. 562. OL 13505280M.
  28. ^ "No. 17893". The London Gazette. 4 February 1823. p. 193.
  29. ^ "No. 18356". The London Gazette. 27 April 1827. p. 937.
  30. ^ "No. 18394". The London Gazette. 7 September 1827. p. 1892.
  31. ^ "No. 28129". The London Gazette. 17 April 1908. p. 2937.
  32. ^ "No. 42733". The London Gazette. 17 July 1962. p. 5731.
  33. ^ "No. 43470". The London Gazette. 23 October 1964. p. 9014.
  34. ^ "No. 44469". The London Gazette. 5 December 1967. p. 13287.
  35. ^ "No. 58389". The London Gazette. 11 July 2007. p. 9979.
  36. ^ "No. 59425". The London Gazette. 21 May 2010. p. 9405.
  37. ^ "Philip Hammond appointed chancellor". BBC News. 13 July 2016. Retrieved 7 July 2017.
  38. ^ "Sajid Javid confirmed as chancellor". The Guardian. 24 July 2019. Retrieved 24 July 2019.
  39. ^ "Sajid Javid resigns as chancellor". BBC News. 13 February 2020. Retrieved 13 February 2020.
  40. ^ "Who is Rishi Sunak? Meet Sajid Javid's replacement as Chancellor". Evening Standard. 13 February 2020. Retrieved 13 February 2020.
  41. ^ "Nadhim Zahawi made chancellor after Rishi Sunak resigns - as Steve Barclay replaces Sajid Javid as health secretary". Sky News. 5 July 2022. Retrieved 5 July 2022.
  42. ^ "Kwasi Kwarteng is the UK's new chancellor". POLITICO. 6 September 2022. Retrieved 28 September 2022.
  43. ^ "Jeremy Hunt made chancellor after Liz Truss sacks Kwasi Kwarteng". Sky News. 14 October 2022. Retrieved 14 October 2022.
  44. ^ Giles, Chris (25 October 2022). "Jeremy Hunt to remain as Chancellor". BBC News. Retrieved 25 October 2022.

Further reading edit

  • Barber, Stephen. "'Westminster's wingman'? Shadow chancellor as a strategic and coveted political role." British Politics 11.2 (2016): 184–204.
  • Baxter, Stephen B. The Development of the Treasury, 1660–1702 (1957) online
  • Browning, Peter. The Treasury and Economic Policy: 1964–1985 (Longman, 1986).
  • Dell, Edmund. The Chancellors: A History of the Chancellors of the Exchequer, 1945–90 (HarperCollins, 1997) 619pp; 17 chapters covering the terms of each chancellor.
  • Holt, Richard. Second Amongst Equals: Chancellors of the Exchequer and the British Economy (Profile Books, 2001).
  • Jenkins, Roy. The Chancellors (1998); 497pp; covers entire career as well as term in office of 19 chancellors from 1886 to 1947.
  • Kynaston, David. The chancellor of the exchequer (T. Dalton, 1980).
  • Peden, G. C. The Treasury and British Public Policy, 1906–1959 (Oxford UP, 2000). online
  • Seldon, Anthony. The Impossible Office? The History of the British Prime Minister (2021) excerpt major scholarly history. Covers the relations with Prime Minister in Chapter 9.
  • Vincent, Nicholas C. "The Origins of the Chancellorship of the Exchequer." English Historical Review 108.426 (1993): 105–121. in JSTOR
  • Woodward, Nicholas. The management of the British economy, 1945–2001 (Manchester University Press, 2004).

External links edit