Chancellor of the Exchequer

The Chancellor of the Exchequer,[lower-alpha 1] often abbreviated to the Chancellor,[1] is a high ranking Minister of the Crown within the Government of the United Kingdom, and head of Her Majesty's Treasury. As one of the four Great Offices of State, the chancellor is a senior member of the British Cabinet.



Chancellor and Under-Treasurer
of HM Exchequer
Incumbent
Rishi Sunak

since 13 February 2020 (2020-02-13)
Her Majesty's Treasury
StyleChancellor
(informal)
The Right Honourable
(UK and the Commonwealth)
StatusGreat Office of State
Member ofCabinet
Privy Council
National Security Council
Reports toThe Prime Minister
Residence11 Downing Street
SeatWestminster
AppointerThe Crown
on advice of the Prime Minister
Term lengthAt Her Majesty's pleasure
Formation22 June 1316
First holderHervey de Stanton
in the Kingdom of England only
DeputyChief Secretary to the Treasury
Salary£71,090 (excluding £81,932 salary as MP)
Websitewww.gov.uk/government/ministers/chancellor-of-the-exchequer

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 Lord High Treasurer  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.[2] 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. 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 1129–30 under King Henry I and show continuity from previous years.[3] 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.

Second Lord of the Treasury

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 Lord High Treasurer.[4] As the 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

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 within 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 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.[5] 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 actually forced to resign.[6]

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.[7] 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

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 these occasions (see above) 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, 1st Earl of Warrington (at that time only a Baron, Lord Delamer) from 9 April 1689 to 18 March 1690. The chancellor holds the formerly independent office of Master of the Mint as a subsidiary office.[8]

Perquisites of the office

Official residence

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.[9] 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

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)[10] of parkland, was allocated to Deputy Prime Minister John Prescott. It reverted to the chancellor in 2007, then Alistair Darling.[11]

Budget box

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 Chancellor's red briefcase is identical to the briefcases 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 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 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.

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 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.[12] The key to the original budget box has been lost.[13]

Budget tipple

By tradition, the chancellor has been allowed to drink whatever he or she wishes 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).[14]

The recent chancellors, Philip Hammond, George Osborne, Alistair Darling and Gordon Brown,[15] 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.[16]

Robe of office

The chancellor has a robe of office,[17] 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)[18] 'went missing' during Gordon Brown's time as chancellor.[19]

List of Chancellors of the Exchequer

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

Chancellor of the Exchequer of England
Portrait Name Term of office Monarch
(Reign)
Eustace of Fauconberg
Bishop of London
(died 1228)
c.1221 N/A Henry III

(1216–1272)
John Maunsell
Secretary of State
(1190/95–1265)
c.1234 N/A
Ralph de Leicester before 1248
Edward of Westminster 1248 N/A
Albric de Fiscamp before 1263
John Chishull
Lord Chancellor[1221 1]
(died 1280)
1263 1265
Walter Giffard
Bishop of Bath and Wells
(c.1225  1279)
1265 1266
Godfrey Giffard
Lord Chancellor
(c.1235  1302)
1266 1268
John Chishull
Lord Chancellor
(died 1280)
1268 1269
Richard of Middleton
Archdeacon of Northumberland
(died 1272)
1269 1272
Roger de la Leye before 1283
Geoffrey de Neuband Edward I

(1272–1307)
Philip de Willoughby 1283 1305
Sir John Benstead
KB

Secretary of State
(c.1275  1323/24)
1305 1306
John Sandale
Bishop of Winchester
(died 1319)
c.July
1307
1308 Edward II

(1307–1327)
John of Markenfield 1309 1312
John Hotham
Bishop of Ely
(died 1337)
1312 1316
Hervey de Stanton
(1260–1327)
1316 c.1323
Walter de Stapledon
Lord High Treasurer
(1261–1326)
1323 c.1324
Hervey de Stanton
Chief Justice of the Common Pleas
(1260–1327)
1324 c.January
1327
Adam de Harvington
(c.1270 – c.1345)
c.January
1327
1330 Edward III

(1327–1377)
[1221 2]
Robert Wodehouse
(died 1346)
1330 1331
Robert de Stratford
Bishop of Chichester
(c.1292  1362)
1331 1334
John Hildesle c.1338 N/A
William de Everdon 1341 N/A
William Askeby
Archdeacon of Northampton
1363 N/A
Sir Robert de Ashton
(died 1385)
1375 c.June
1377
Sir Walter Barnham c.June
1377
c.September
1399
Richard II

(1377–1399)
Henry Somer
MP for Middlesex
(c.1370  1450)
1410 1437 Henry IV

(1399–1413)
Henry V

(1413–1422)
Henry VI

(1422–1461)
[1221 3]
John Somerset
(died 1454)
1441 1447
Sir Thomas Browne
MP for Dover
(1402–1460)
1440? 1450?
Thomas Witham
(c.1420  1489)
1454 N/A
Thomas Thwaites
(c.1435–1503)
c.March
1461
N/A Edward IV

(1461–1470)
Thomas Witham
(c.1420  1489)
1465 1469
Sir Richard Fowler
(c.1425  1477)
1469 c.April
1471
Henry VI

(1470–1471)
Thomas Thwaites
Chancellor of the Duchy of Lancaster
(c.1435–1503)
c.April
1471
c.April
1483
Edward IV

(1471–1483)
Sir William Catesby
Speaker of the House of Commons
(1450–1485)
c.April
1483
c.1484 Edward V

(1483)
[1221 4]
Richard III

(1483–1485)
Sir Thomas Lovell
Speaker of the House of Commons[1221 5]
(died 1524)
c.August
1485
1524 Henry VII

(1485–1509)
Henry VIII

(1509–1547)
[1221 6]
John Bourchier
2nd Baron Berners
PC

(1467–1533)
1524 1533?
Thomas Cromwell
1st Earl of Essex
KGPC

Secretary of State
(c.1485  1540)
12 April
1533
10 June
1540
Sir John Baker
MP for Kent
(1488–1558)
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 respectively during the reign of Edward VI.

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

Chancellor of the Exchequer of England[20]
Portrait Name[lower-alpha 2]
(Birth–Death)
Term of office Monarch
(Reign)
Ref.
Sir Richard Sackville
MP for Sussex
(c.1507  1566)
February
1559
21 April
1566
Elizabeth I

(1558–1603)
[20]
Sir Walter Mildmay
MP for Northamptonshire
(c.1523  1589)
1566 31 May
1589
[20]
Sir John Fortescue
(c.1531  1607)
1589 1603 [20]
James I

(1603–1625)
The Right Honourable
George Home
1st Earl of Dunbar
PC

(c.1556  1611)
24 May
1603
April
1606
[20]
Sir Julius Caesar
MP for Middlesex
(1557/1558–1636)
11 April
1606
1614 [20]
The Right Honourable
Sir Fulke Greville
KB

MP for Warwickshire[1558 3]
(1554–1628)
15 October
1614
1621 [20]
The Right Honourable
Sir Richard Weston
KG

MP for 4 constituencies respectively
(1577  c.1634)
29 January
1621
15 July
1628
[20]
Charles I

(1625–1649)
The Right Honourable
Edward Barrett
1st Lord Barrett of Newburgh
PC

(1581  c.1645)
14 August
1628
1629 [20]
The Right Honourable
Francis Cottington
1st Baron Cottington
PC

(c.1579  1652)
18 April
1629
6 January
1642
[20]
Sir John Colepeper
MP for Kent
(c.1600  1660)
6 January
1642
22 February
1643
[20]
The Right Honourable
Sir Edward Hyde

(1609–1674)
February
1643
1646 [20]
Vacancy during the Interregnum (1649–1660)
Portrait Name[lower-alpha 2]
(Birth–Death)
Term of office Ministry Monarch
(Reign)
Ref.
The Right Honourable
Edward Hyde
1st Baron Hyde
KtPC

(16091674)
1660 13 May
1661
Clarendon Charles II

(1660–1685)
[20]
The Right Honourable
Anthony Ashley Cooper
1st Baron Ashley
PC

(1621–1683)
13 May
1661
22 November
1672
[20]
Cabal
Sir John Duncombe
MP for Bury St Edmunds
(1622–1687)
22 November
1672
2 May
1676
[20]
Danby I
Sir John Ernle
MP for 4 constituencies respectively
(1620–1697)
2 May
1676
9 April
1689
[20]
Privy Council
Chits
James II

(1685–1688)
William III
&
Mary II

(1689–1694)
The Right Honourable
Henry Booth
2nd Baron Delamer
PC

(1652–1694)
9 April
1689
18 March
1690
CarmarthenHalifax [20]
Richard Hampden
MP for Buckinghamshire
(c.1631  1695)
18 March
1690
10 May
1694
Carmarthen [20]
The Right Honourable
Charles Montagu
FRS

(1661–1715)
10 May
1694
31 May
1699
Whig Junto I [20]
William III

(1694–1702)
Sir John Smith
MP for Andover
(1655/56–1723)
31 May
1699
23 March
1701
Pembroke [20]
Henry Boyle
27 March
1701
22 April
1708
[20]
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)

Chancellor of the Exchequer of Great Britain[20]
Portrait Name[lower-alpha 2]
(Birth–Death)
Term of office Party Ministry Monarch
(Reign)
Ref.
The Right Honourable
Sir John Smith

MP for Andover
(1655/56–1723)
22 April
1708
11 August
1710
Whig Godolphin–Marlborough
(ToryWhig)
Anne

(1702–1714)
[20]
The Right Honourable
Robert Harley

MP for Radnor
(1661–1724)
11 August
1710
4 June
1711
Tory Oxford–Bolingbroke [20]
The Right Honourable
Robert Benson

MP for York
(c.1676  1731)
4 June
1711
21 August
1713
Tory [20]
The Right Honourable
Sir William Wyndham
Bt

MP for Somerset
(c.1688  1740)
21 August
1713
13 October
1714
Tory [20]
George I

(1714–1727)
[1708 1]
The Right Honourable
Sir Richard Onslow
Bt

MP for Surrey
(1654–1717)
13 October
1714
12 October
1715
Whig Townshend [20]
The Right Honourable
Robert Walpole

MP for King's Lynn
(1676–1745)
12 October
1715
15 April
1717
Whig [20]
The Right Honourable
James Stanhope
1st Earl Stanhope
PC

(c.1673  1721)
15 April
1717
20 March
1718
Whig Stanhope–Sunderland I [20]
The Right Honourable
John Aislabie

MP for Ripon
(1670–1742)
20 March
1718
23 January
1721
Whig Stanhope–Sunderland II [20]
The Right Honourable
Sir John Pratt

Lord Chief Justice
(1657–1725) (interim)
2 February
1721
3 April
1721
Whig [20]
The Right Honourable
Robert Walpole
1st Earl of Orford
KGKBPC

MP for King's Lynn[1708 2]
(16761745)
3 April
1721
12 February
1742
Whig WalpoleTownshend [20]
George II

(1727–1760)
Walpole
The Right Honourable
Samuel Sandys

MP for Worcester
(1695–1770)
12 February
1742
12 December
1743
Whig Carteret [20]
The Right Honourable
Henry Pelham
FRS

MP for Sussex
(1694–1754)
12 December
1743
8 March
1754
Whig [20]
Broad Bottom
(I & II)
The Right Honourable
Sir William Lee

Lord Chief Justice
(1688–1754) (interim)
8 March
1754
6 April
1754
Whig Newcastle I [20]
The Right Honourable
Henry Bilson-Legge
FRS

MP for Orford
(1708–1764)
6 April
1754
25 November
1755
Whig [20]
The Right Honourable
Sir George Lyttelton
Bt

MP for Okehampton
(1709–1773)
25 November
1755
16 November
1756
Whig [20]
The Right Honourable
Henry Bilson-Legge

MP for Orford
(1708–1764)
16 November
1756
13 April
1757
Whig Pitt–Devonshire [20]
The Right Honourable
William Murray
1st Earl of Mansfield
PCSL

Lord Chief Justice
(17051793) (interim)
13 April
1757
2 July
1757
Whig [20]
1757 Caretaker
The Right Honourable
Henry Bilson-Legge

(1708–1764)
2 July
1757
19 March
1761
Whig PittNewcastle [20]
George III

(1760–1820)
[1708 4]
The Right Honourable
William Barrington
2nd Viscount Barrington
PC

MP for Plymouth
(1717–1793)
19 March
1761
29 May
1762
Whig [20]
The Right Honourable
Sir Francis Dashwood
BtFRS

MP for Weymouth and Melcombe Regis
(17081781)
29 May
1762
16 April
1763
Tory Bute
(ToryWhig)
[20]
The Right Honourable
George Grenville

MP for Buckingham
(1712–1770)
16 April
1763
16 July
1765
Whig Grenville
(WhigTory)
[20]
The Right Honourable
William Dowdeswell

MP for Worcestershire
(1721–1775)
16 July
1765
2 August
1766
Whig Rockingham I [20]
The Right Honourable
Charles Townshend

MP for Harwich
(1725–1767)
2 August
1766
4 September
1767
Whig Chatham
(WhigTory)
[20]
The Right Honourable
Frederick North
Lord North
KG

MP for Banbury
(1732–1792)
11 September
1767
27 March
1782
Tory [20]
Grafton
North
The Right Honourable
Lord John Cavendish

MP for York
(1732–1796)
27 March
1782
10 July
1782
Whig Rockingham II [20]
The Right Honourable
William Pitt the Younger

MP for Appleby
(1759–1806)
10 July
1782
31 March
1783
Whig Shelburne
(WhigTory)
[20]
The Right Honourable
Lord John Cavendish

MP for York
(1732–1796)
2 April
1783
19 December
1783
Whig Fox–North [20]
The Right Honourable
William Pitt the Younger

(1759–1806)
19 December
1783
14 March
1801
Tory Pitt I [20]
The Right Honourable
Henry Addington

MP for Devizes
(1757–1844)
14 March
1801
10 May
1804
Tory Addington [20]
The Right Honourable
William Pitt the Younger

MP for Cambridge University
(1759–1806)
10 May
1804
23 January
1806
Tory Pitt II [20]
The Right Honourable
Edward Law
1st Baron Ellenborough
PCKCFSA

Lord Chief Justice
(17501818) (interim)
23 January
1806
5 February
1806
Tory All the Talents
(WhigTory)
[20]
The Right Honourable
Lord Henry Petty-Fitzmaurice

MP for Cambridge University
(1780–1863)
5 February
1806
26 March
1807
Whig [20]
The Right Honourable
Spencer Perceval
KC

MP for Northampton
(1762–1812)
26 March
1807
11 May
1812
Tory Portland II [20]
Perceval
The Right Honourable
Nicholas Vansittart

(1766–1851)
9 June
1812
12 July
1817
Tory Liverpool [21]
  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)

Although the Kingdoms of Great Britain and Ireland had been united by the Acts 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.[22][23] For the holders of the Irish office before this date, see Chancellor of the Exchequer of Ireland.

Chancellor of the Exchequer of the United Kingdom[20]
Portrait Name[lower-alpha 2]
(Birth–Death)
Term of office Party Ministry Monarch
(Reign)
Ref.
The Right Honourable
Nicholas Vansittart
FRS

MP for Harwich
(1766–1851)
12 July
1817
31 January
1823
Tory Liverpool George III

(1760–1820)
[1817 1]
[20]
George IV

(1820–1830)
The Right Honourable
Frederick John Robinson

MP for Ripon
(1782–1859)
31 January
1823
27 April
1827
Tory [24]
The Right Honourable
George Canning
FRS

MP for Seaford
(1770–1827)
27 April
1827
8 August
1827
Tory Canning
(CanningiteWhig)
[25]
The Right Honourable
Charles Abbott
1st Baron Tenterden
PCSL

Lord Chief Justice
(1762–1832) (interim)
8 August
1827
5 September
1827
Tory Goderich N/A
The Right Honourable
John Charles Herries

MP for Harwich
(1778–1855)
5 September
1827
26 January
1828
Tory [26]
The Right Honourable
Henry Goulburn
FRS

MP for Armagh
(1784–1856)
26 January
1828
22 November
1830
Tory WellingtonPeel [20]
William IV

(1830–1837)
The Right Honourable
John Spencer
Viscount Althorp
DLFRS

22 November
1830
14 November
1834
Whig Grey [20]
Melbourne I
The Right Honourable
Thomas Denman
1st Baron Denman
PC

Lord Chief Justice
(1779–1854) (interim)
14 November
1834
15 December
1834
Whig Wellington Caretaker N/A
The Right Honourable
Sir Robert Peel
BtFRS

MP for Tamworth
(17881850)
15 December
1834
8 April
1835
Conservative Peel I [20]
The Right Honourable
Thomas Spring Rice

MP for Cambridge
(1790–1866)
18 April
1835
26 August
1839
Whig Melbourne II [20]
Victoria

(1837–1901)
The Right Honourable
Francis Baring

MP for Portsmouth
(1796–1866)
26 August
1839
30 August
1841
Whig [20]
The Right Honourable
Henry Goulburn
FRS

MP for Cambridge University
(1784–1856)
3 September
1841
27 June
1846
Conservative Peel II [20]
The Right Honourable
Sir Charles Wood
Bt

MP for Halifax
(1800–1885)
6 July
1846
21 February
1852
Whig Russell I [20]
The Right Honourable
Benjamin Disraeli

MP for Buckinghamshire
(1804–1881)
27 February
1852
17 December
1852
Conservative Who? Who? [20]
The Right Honourable
William Ewart Gladstone

MP for Oxford University
(1809–1898)
28 December
1852
28 February
1855
Peelite Aberdeen
(PeeliteWhig)
[20]
The Right Honourable
Sir George Cornewall Lewis
Bt

MP for Radnor
(1806–1863)
28 February
1855
21 February
1858
Whig Palmerston I [20]
The Right Honourable
Benjamin Disraeli

MP for Buckinghamshire
(1804–1881)
26 February
1858
11 June
1859
Conservative DerbyDisraeli II [20]
The Right Honourable
William Ewart Gladstone

18 June
1859
26 June
1866
Liberal Palmerston II [20]
Russell II
The Right Honourable
Benjamin Disraeli

MP for Buckinghamshire
(1804–1881)
6 July
1866
29 February
1868
Conservative DerbyDisraeli III [20]
The Right Honourable
George Ward Hunt

MP for North Northamptonshire
(1825–1877)
29 February
1868
1 December
1868
Conservative [20]
The Right Honourable
Robert Lowe

MP for London University
(1811–1892)
9 December
1868
11 August
1873
Liberal Gladstone I [20]
The Right Honourable
William Ewart Gladstone

MP for Greenwich
(1809–1898)
11 August
1873
17 February
1874
Liberal [20]
The Right Honourable
Sir Stafford Northcote
BtGCBFRS

MP for North Devonshire
(18181887)
21 February
1874
21 April
1880
Conservative Disraeli II [20]
The Right Honourable
William Ewart Gladstone

MP for Midlothian
(1809–1898)
28 April
1880
16 December
1882
Liberal Gladstone II [20]
The Right Honourable
Hugh Childers

MP for Pontefract
(1827–1896)
16 December
1882
9 June
1885
Liberal [20]
The Right Honourable
Sir Michael Hicks Beach
BtDL

MP for Bristol West
(18371916)
24 June
1885
28 January
1886
Conservative Salisbury I [20]
The Right Honourable
Sir William Harcourt
QC

MP for Derby
(1827–1904)
6 February
1886
20 July
1886
Liberal Gladstone III [20]
The Right Honourable
Lord Randolph Churchill

MP for Paddington South
(1849–1895)
3 August
1886
22 December
1886
Conservative Salisbury II [20]
The Right Honourable
George Goschen
DL

MP for St George Hanover Square
(1831–1907)
14 January
1887
11 August
1892
Liberal Unionist [20]
The Right Honourable
Sir William Harcourt
QC

MP for Derby
(1827–1904)
18 August
1892
21 June
1895
Liberal Gladstone IV [20]
Rosebery
The Right Honourable
Sir Michael Hicks Beach
BtDL

MP for Bristol West
(1837–1916)
29 June
1895
11 August
1902
Conservative Salisbury
(III & IV)

(Con.Lib.U.)
[20]
Edward VII

(1901–1910)
The Right Honourable
Charles Ritchie

MP for Croydon
(1838–1906)
11 August
1902
9 October
1903
Conservative Balfour [20]
The Right Honourable
Austen Chamberlain

MP for East Worcestershire
(1863–1937)
9 October
1903
4 December
1905
Liberal Unionist [20]
The Right Honourable
Herbert Henry Asquith
KC

MP for East Fife
(1852–1928)
10 December
1905
16 April
1908
Liberal Campbell-Bannerman [20]
The Right Honourable
David Lloyd George

MP for Caernarvon Boroughs
(1863–1945)
16 April
1908
25 May
1915
Liberal Asquith
(I–III)
[27]
George V

(1910–1936)
The Right Honourable
Reginald McKenna

MP for North Monmouthshire
(1863–1943)
25 May
1915
10 December
1916
Liberal Asquith Coalition
(Lib.Con.–et al.)
[20]
The Right Honourable
Bonar Law

(1858–1923)
10 December
1916
10 January
1919
Conservative Lloyd George
(I & II)
[20]
The Right Honourable
Austen Chamberlain

MP for Birmingham West
(1863–1937)
10 January
1919
1 April
1921
Conservative [20]
The Right Honourable
Sir Robert Horne
GBEKC

MP for Glasgow Hillhead
(1871–1940)
1 April
1921
19 October
1922
Conservative [20]
The Right Honourable
Stanley Baldwin
JP

MP for Bewdley
(1867–1947)
27 October
1922
27 August
1923
Conservative Law [20]
Baldwin I
The Right Honourable
Neville Chamberlain

MP for Birmingham Ladywood
(1869–1940)
27 August
1923
22 January
1924
Conservative [20]
The Right Honourable
Philip Snowden

MP for Colne Valley
(1864–1937)
22 January
1924
3 November
1924
Labour MacDonald I [20]
The Right Honourable
Winston Churchill
CHTD

MP for Epping
(1874–1965)
6 November
1924
4 June
1929
Conservative Baldwin II [20]
The Right Honourable
Philip Snowden

MP for Colne Valley
(1864–1937)
7 June
1929
5 November
1931
Labour MacDonald II [20]
National Labour National I
(N.Lab.Con.–et al.)
The Right Honourable
Neville Chamberlain
FRS

MP for Birmingham Edgbaston
(1869–1940)
5 November
1931
28 May
1937
Conservative National II [20]
National III
(Con.N.Lab.–et al.)
Edward VIII

(1936)
George VI

(1936–1952)
The Right Honourable
Sir John Simon
GCSIGCVOOBE

MP for Spen Valley
(1873–1954)
28 May
1937
12 May
1940
Liberal National National IV [20]
Chamberlain War
The Right Honourable
Sir Kingsley Wood

MP for Woolwich West
(1881–1943)
12 May
1940
21 September
1943
Conservative Churchill War
(All parties)
[20]
The Right Honourable
Sir John Anderson
GCBGCSIGCIEPC (Ire)

MP for Combined Scottish Universities
(1882–1958)
24 September
1943
26 July
1945
Independent
(National)
[20]
Churchill Caretaker
(Con.Lib.N.)
The Right Honourable
Hugh Dalton

MP for Bishop Auckland
(1887–1962)
27 July
1945
13 November
1947
Labour Attlee
(I & II)
[20]
The Right Honourable
Sir Stafford Cripps
FRS

13 November
1947
19 October
1950
Labour [20]
The Right Honourable
Hugh Gaitskell
CBE

MP for Leeds South
(1906–1963)
19 October
1950
26 October
1951
Labour [20]
The Right Honourable
Richard Austen Butler
CH

MP for Saffron Walden
(1902–1982)
26 October
1951
20 December
1955
Conservative Churchill III [20]
Elizabeth II

(1952–present)
Eden
The Right Honourable
Harold Macmillan

MP for Bromley
(1894–1986)
20 December
1955
13 January
1957
Conservative [20]
The Right Honourable
Peter Thorneycroft

MP for Monmouth
(1909–1994)
13 January
1957
6 January
1958
Conservative Macmillan
(I & II)
[20]
The Right Honourable
Derick Heathcoat-Amory
TD

MP for Tiverton
(1899–1981)
6 January
1958
27 July
1960
Conservative [20]
The Right Honourable
Selwyn Lloyd
CBEQC

MP for Wirral
(1904–1978)
27 July
1960
13 July
1962
Conservative [20]
The Right Honourable
Reginald Maudling

MP for Barnet
(1917–1979)
16 July
1962
16 October
1964
Conservative [28]
Douglas-Home
The Right Honourable
James Callaghan

MP for Cardiff South East
(1912–2005)
17 October
1964
29 November
1967
Labour Wilson
(I & II)
[29]
The Right Honourable
Roy Jenkins

MP for Birmingham Stechford
(1920–2003)
29 November
1967
19 June
1970
Labour [30]
The Right Honourable
Iain Macleod

MP for Enfield West
(1913–1970)
20 June
1970
20 July
1970
Conservative Heath [20]
The Right Honourable
Anthony Barber
TD

MP for Altrincham and Sale
(1920–2005)
25 July
1970
4 March
1974
Conservative [20]
The Right Honourable
Denis Healey
MBE

MP for Leeds East
(1917–2015)
5 March
1974
4 May
1979
Labour Wilson
(III & IV)
[20]
Callaghan
The Right Honourable
Sir Geoffrey Howe
QC

MP for East Surrey
(1926–2015)
4 May
1979
11 June
1983
Conservative Thatcher I [20]
The Right Honourable
Nigel Lawson

MP for Blaby
(born 1932)
11 June
1983
26 October
1989
Conservative Thatcher II [20]
Thatcher III
The Right Honourable
John Major

MP for Huntingdon
(born 1943)
26 October
1989
28 November
1990
Conservative [20]
The Right Honourable
Norman Lamont

MP for Kingston-upon-Thames
(born 1942)
28 November
1990
27 May
1993
Conservative Major I [20]
Major II
The Right Honourable
Kenneth Clarke
QC

MP for Rushcliffe
(born 1940)
27 May
1993
2 May
1997
Conservative [20]
The Right Honourable
Gordon Brown

2 May
1997
27 June
2007
Labour Blair
(I, II & III)
[20]
The Right Honourable
Alistair Darling

MP for Edinburgh South West
(born 1953)
28 June
2007
11 May
2010
Labour Brown [31]
The Right Honourable
George Osborne

MP for Tatton
(born 1971)
11 May
2010
13 July
2016
Conservative Cameron–Clegg
(Con.L.D.)
[32]
Cameron II
The Right Honourable
Philip Hammond

MP for Runnymede and Weybridge
(born 1955)
13 July
2016
24 July
2019
Conservative May I [33]
May II
The Right Honourable
Sajid Javid

MP for Bromsgrove
(born 1969)
24 July
2019
13 February
2020
Conservative Johnson I [34][35]
Johnson II
The Right Honourable
Rishi Sunak

MP for Richmond (Yorks)
(born 1980)
13 February
2020
Incumbent Conservative [36]
  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.

See also

Notes

  1. This is used in almost all cases, including formal uses, for example in Parliament where it is common to refer to the position as 'Mr Chancellor of the Exchequer'. An example use of the full title is on writs appointing people to offices in the Manor of Northstead or the Chiltern Hundreds.
  2. Including honorifics and constituencies for elected MPs.

References

  1. Martin, Ben (13 July 2016). "Who is Philip Hammond, Britain's new Chancellor, and what are likely to be his first steps?" via www.telegraph.co.uk.
  2. 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.
  3. Chrimes Administrative History pp. 62–63
  4. "Great Offices of State". The Cabinet Papers. The National Archives. Retrieved 21 December 2010.
  5. "Gordon Brown: Chancellor of the Exchequer". Encyclopedia II. Experiencefestival.com. Archived from the original on 2 November 2012. Retrieved 2 May 2010.
  6. Ben Pimlott, Hugh Dalton (1985) pp 524–48.
  7. "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.
  8. Owen, James (19 December 2012). "Sir Isaac Newton – did you know?". The Royal Mint. Retrieved 6 June 2017.
  9. "History of Number 11 Downing Street". UK Government. Retrieved 16 October 2014.
  10. "Local History". Burnham Parish Council. Archived from the original on 1 October 2011.
  11. http://www.timesonline.co.uk/tol/news/politics/article2532776.ece Archived 5 June 2011 at the Wayback Machine
  12. "Bye-bye budget box, hello backpack". the Guardian. 21 March 2011.
  13. Alistair Darling, Back from the Brink(2011)
  14. "The Budget and Parliament". Parliament of the United Kingdom. Retrieved 8 November 2015.
  15. Lydall, Ross (6 March 2008). "Chancellor names his preferred Budget tipple – a glass of plain London tap water". The Scotsman. Retrieved 2 May 2010.
  16. Murphy, Joe (5 March 2008). "Darling chooses tap water for Budget Day to support Standard campaign". London Evening Standard. Retrieved 9 February 2012.
  17. "Photographb".
  18. "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.
  19. Vina, Gonzalo (10 December 2010). "www.bloomberg.com". Bloomberg.
  20. "Past Chancellors of the Exchequer". gov.uk. Government of the United Kingdom. Retrieved 7 September 2017.
  21. "No. 16611". The London Gazette. 9 June 1812. p. 1111.
  22. "Consolidated Fund Act 1816". section 2, Act No. 98 of 1816. Retrieved 18 November 2016.
  23. Haydn, Joseph; Ockerby, Horace, eds. (1890). "X (Ireland)". The Book of Dignities. London: W. H. Allen & Co. p. 562. OL 13505280M.
  24. "No. 17893". The London Gazette. 4 February 1823. p. 193.
  25. "No. 18356". The London Gazette. 27 April 1827. p. 937.
  26. "No. 18394". The London Gazette. 7 September 1827. p. 1892.
  27. "No. 28129". The London Gazette. 17 April 1908. p. 2937.
  28. "No. 42733". The London Gazette. 17 July 1962. p. 5731.
  29. "No. 43470". The London Gazette. 23 October 1964. p. 9014.
  30. "No. 44469". The London Gazette. 5 December 1967. p. 13287.
  31. "No. 58389". The London Gazette. 11 July 2007. p. 9979.
  32. "No. 59425". The London Gazette. 21 May 2010. p. 9405.
  33. "Philip Hammond appointed chancellor". BBC News. 13 July 2016. Retrieved 7 July 2017.
  34. "Sajid Javid confirmed as chancellor". The Guardian. 24 July 2019. Retrieved 24 July 2019.
  35. "Sajid Javid resigns as chancellor". BBC News. 13 February 2020. Retrieved 13 February 2020.
  36. "Who is Rishi Sunak? Meet Sajid Javid's replacement as Chancellor". Evening Standard. 13 February 2020. Retrieved 13 February 2020.

Further reading

  • 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. CThe Treasury and British Public Policy, 1906–1959 (Oxford UP, 2000). online
  • 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).
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