Chancellor of the Exchequer
The chancellor of the Exchequer, often abbreviated to chancellor,[2] 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 and is third in the ministerial ranking, behind the prime minister and the deputy prime minister.[3]
Chancellor of the Exchequer and Second Lord of the Treasury | |
---|---|
His Majesty's Treasury | |
Style |
|
Type |
|
Member of |
|
Reports to | The Prime Minister |
Residence |
|
Seat | Westminster |
Appointer | The king (on the advice of the prime minister) |
Term length | At His Majesty's pleasure |
Formation | 22 June 1316 |
First holder | Hervey de Stanton (in the Kingdom of England only) |
Deputy | Chief Secretary to the Treasury |
Salary | £153,022 (including £81,932 salary as Member of Parliament) |
Website | Official 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. 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.[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]
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 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
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 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
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
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
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.[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
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
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.[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 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.[16] The key to the original budget box has been lost.[17]
Budget tipple
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
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
Chancellors of the Exchequer of England (c. 1221 – c. 1558)
Portrait | Name | Term of office | Monarch (Reign) | ||
---|---|---|---|---|---|
Eustace of Fauconberg Bishop of London (died 1228) |
c. 1221 | — | Henry III (1216–1272) | ||
John Maunsell Secretary of State (1190/95–1265) |
c. 1234 | — | |||
Ralph de Leicester | before 1248 | ||||
Edward of Westminster | 1248 | — | |||
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 | — | |||
William de Everdon | 1341 | — | |||
William Askeby Archdeacon of Northampton |
1363 | — | |||
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 | — | |||
Thomas Thwaites (c. 1435–1503) |
c. March 1461 |
— | 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.
- Served until 1264.
- Lord Lancaster served as Regent of England during the minority of Edward III.
- The Regency government led by the Regency Council governed England during the minority of Henry VI.
- The Duke of Gloucester served as Regent of England during the reign of Edward V.
- Served until 1488.
- Margaret Beaufort served as Regent of England during the minority of Henry VIII.
- 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)
Portrait | Name[lower-alpha 1] (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) |
[24] | ||
Sir Walter Mildmay MP for Northamptonshire (c. 1523 – 1589) |
1566 | 31 May 1589† |
[24] | |||
Sir John Fortescue |
1589 | 1603 | [24] | |||
The Right Honourable George Home 1st Earl of Dunbar PC (c. 1556 – 1611) |
24 May 1603 |
April 1606 |
James I (1603–1625) |
[24] | ||
Sir Julius Caesar MP for Middlesex (1557/1558–1636) |
11 April 1606 |
1614 | [24] | |||
The Right Honourable Sir Fulke Greville KB MP for Warwickshire[1558 3] (1554–1628) |
15 October 1614 |
1621 | [24] | |||
The Right Honourable Sir Richard Weston KG MP for 7 constituencies successively (1577 – c. 1634) |
29 January 1621 |
15 July 1628 |
[24] | |||
Charles I (1625–1649) | ||||||
The Right Honourable Edward Barrett 1st Lord Barrett of Newburgh PC (1581 – c. 1645) |
14 August 1628 |
1629 | [24] | |||
The Right Honourable Francis Cottington 1st Baron Cottington PC (c. 1579 – 1652) |
18 April 1629 |
6 January 1642 |
[24] | |||
Sir John Colepeper MP for Kent (c. 1600 – 1660) |
6 January 1642 |
22 February 1643 |
[24] | |||
The Right Honourable Sir Edward Hyde (1609–1674) |
February 1643 |
1646 | [24] | |||
Vacancy during the Interregnum (1649–1660) | ||||||
Portrait | Name[lower-alpha 1] (Birth–Death) |
Term of office | Ministry | Monarch (Reign) |
Ref. | |
The Right Honourable Edward Hyde 1st Baron Hyde KtPC (1609–1674) |
1660 | 13 May 1661 |
Clarendon | Charles II (1660–1685) |
[24] | |
The Right Honourable Anthony Ashley Cooper 1st Baron Ashley PC (1621–1683) |
13 May 1661 |
22 November 1672 |
[24] | |||
Cabal | ||||||
Sir John Duncombe MP for Bury St Edmunds (1622–1687) |
22 November 1672 |
2 May 1676 |
[24] | |||
Danby I | ||||||
| Sir John Ernle MP for 4 constituencies successively (1620–1697) |
2 May 1676 |
9 April 1689 |
[24] | ||
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 |
Carmarthen–Halifax | [24] | ||
Richard Hampden MP for Buckinghamshire (c. 1631 – 1695) |
18 March 1690 |
10 May 1694 |
Carmarthen | [24] | ||
The Right Honourable Charles Montagu FRS MP for Maldon → Westminster[1558 4] (1661–1715) |
10 May 1694 |
31 May 1699 |
Whig Junto I | [24] | ||
William III (1694–1702) | ||||||
Sir John Smith MP for Andover (1655/56–1723) |
31 May 1699 |
23 March 1701 |
Pembroke | [24] | ||
| Henry Boyle MP for Cambridge University → Westminster[1558 5] (1669–1725) |
27 March 1701 |
22 April 1708 |
[24] | ||
Godolphin–Marlborough (Tory–Whig) |
Anne (1702–1714) |
- Served until 1589 during the 9th Parliament of Queen Elizabeth I.
- Served from 1601 prior to the Golden Speech.
- Served during the 3rd Parliament of King James I in 1621.
- Elected to a new constituency in the 1695 general election.
- Elected to a new constituency in the 1705 general election.
Chancellors of the Exchequer of Great Britain (1708–1817)
Portrait | Name[lower-alpha 1] (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 (Tory–Whig) |
Anne (1702–1714) |
[24] | ||
The Right Honourable Robert Harley MP for Radnor (1661–1724) |
11 August 1710 |
4 June 1711 |
Tory | Oxford–Bolingbroke | [24] | |||
The Right Honourable Robert Benson MP for York (c. 1676 – 1731) |
4 June 1711 |
21 August 1713 |
Tory | [24] | ||||
The Right Honourable Sir William Wyndham Bt MP for Somerset (c. 1688 – 1740) |
21 August 1713 |
13 October 1714 |
Tory | [24] | ||||
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 | [24] | |||
The Right Honourable Robert Walpole MP for King's Lynn (1676–1745) |
12 October 1715 |
15 April 1717 |
Whig | [24] | ||||
The Right Honourable James Stanhope 1st Earl Stanhope PC (c. 1673 – 1721) |
15 April 1717 |
20 March 1718 |
Whig | Stanhope–Sunderland I | [24] | |||
The Right Honourable John Aislabie MP for Ripon (1670–1742) |
20 March 1718 |
23 January 1721 |
Whig | Stanhope–Sunderland II | [24] | |||
The Right Honourable Sir John Pratt Lord Chief Justice (1657–1725) (interim) |
2 February 1721 |
3 April 1721 |
Whig | [24] | ||||
The Right Honourable Robert Walpole 1st Earl of Orford KGKBPC MP for King's Lynn[1708 2] (1676–1745) |
3 April 1721 |
12 February 1742 |
Whig | Walpole–Townshend | [24] | |||
George II (1727–1760) | ||||||||
Walpole | ||||||||
The Right Honourable Samuel Sandys MP for Worcester (1695–1770) |
12 February 1742 |
12 December 1743 |
Whig | Carteret | [24] | |||
| The Right Honourable Henry Pelham FRS MP for Sussex (1694–1754) |
12 December 1743 |
8 March 1754† |
Whig | [24] | |||
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 | [24] | |||
The Right Honourable Henry Bilson-Legge FRS MP for Orford (1708–1764) |
6 April 1754 |
25 November 1755 |
Whig | [24] | ||||
The Right Honourable Sir George Lyttelton Bt MP for Okehampton (1709–1773) |
25 November 1755 |
16 November 1756 |
Whig | [24] | ||||
The Right Honourable Henry Bilson-Legge MP for Orford (1708–1764) |
16 November 1756 |
13 April 1757 |
Whig | Pitt–Devonshire | [24] | |||
The Right Honourable William Murray 1st Earl of Mansfield PCSL Lord Chief Justice (1705–1793) (interim) |
13 April 1757 |
2 July 1757 |
Whig | [24] | ||||
1757 Caretaker | ||||||||
The Right Honourable Henry Bilson-Legge MP for Orford → Hampshire[1708 3] (1708–1764) |
2 July 1757 |
19 March 1761 |
Whig | Pitt–Newcastle | [24] | |||
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 | [24] | ||||
The Right Honourable Sir Francis Dashwood BtFRS MP for Weymouth and Melcombe Regis (1708–1781) |
29 May 1762 |
16 April 1763 |
Tory | Bute (Tory–Whig) |
[24] | |||
The Right Honourable George Grenville MP for Buckingham (1712–1770) |
16 April 1763 |
16 July 1765 |
Whig | Grenville (Whig–Tory) |
[24] | |||
The Right Honourable William Dowdeswell MP for Worcestershire (1721–1775) |
16 July 1765 |
2 August 1766 |
Whig | Rockingham I | [24] | |||
The Right Honourable Charles Townshend MP for Harwich (1725–1767) |
2 August 1766 |
4 September 1767† |
Whig | Chatham (Whig–Tory) |
[24] | |||
| The Right Honourable Frederick North Lord North KG MP for Banbury (1732–1792) |
11 September 1767 |
27 March 1782 |
Tory | [24] | |||
Grafton | ||||||||
North | ||||||||
The Right Honourable Lord John Cavendish MP for York (1732–1796) |
27 March 1782 |
10 July 1782 |
Whig | Rockingham II | [24] | |||
The Right Honourable William Pitt the Younger MP for Appleby (1759–1806) |
10 July 1782 |
31 March 1783 |
Whig | Shelburne (Whig–Tory) |
[24] | |||
The Right Honourable Lord John Cavendish MP for York (1732–1796) |
2 April 1783 |
19 December 1783 |
Whig | Fox–North | [24] | |||
The Right Honourable William Pitt the Younger MP for Appleby → Cambridge University[1708 5] (1759–1806) |
19 December 1783 |
14 March 1801 |
Tory | Pitt I | [24] | |||
The Right Honourable Henry Addington MP for Devizes (1757–1844) |
14 March 1801 |
10 May 1804 |
Tory | Addington | [24] | |||
The Right Honourable William Pitt the Younger MP for Cambridge University (1759–1806) |
10 May 1804 |
23 January 1806† |
Tory | Pitt II | [24] | |||
The Right Honourable Edward Law 1st Baron Ellenborough PCKCFSA Lord Chief Justice (1750–1818) (interim) |
23 January 1806 |
5 February 1806 |
Tory | All the Talents (Whig–Tory) |
[24] | |||
The Right Honourable Lord Henry Petty-Fitzmaurice MP for Cambridge University (1780–1863) |
5 February 1806 |
26 March 1807 |
Whig | [24] | ||||
The Right Honourable Spencer Perceval KC MP for Northampton (1762–1812) |
26 March 1807 |
11 May 1812† |
Tory | Portland II | [24] | |||
Perceval | ||||||||
The Right Honourable Nicholas Vansittart MP for East Grinstead → Harwich[1708 6] (1766–1851) |
9 June 1812 |
12 July 1817 |
Tory | Liverpool | [25] |
- Lord Parker served as Regent of Great Britain from 1 August to 18 September 1714.
- Elevated to the Peerage of Great Britain on 6 February 1742.
- Elected to a new constituency in the Hampshire by-election.
- The Prince of Wales served as Prince Regent from 5 February 1811.
- Elected to a new constituency in the 1784 general election.
- 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.[26][27] For the holders of the Irish office before this date, see Chancellor of the Exchequer of Ireland.
Portrait | Name[lower-alpha 1] (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] |
[24] | ||
George IV (1820–1830) | ||||||||
The Right Honourable Frederick John Robinson MP for Ripon (1782–1859) |
31 January 1823 | 27 April 1827 | Tory | [28] | ||||
The Right Honourable George Canning FRS MP for Seaford (1770–1827) |
27 April 1827 | 8 August 1827† | Tory | Canning (Canningite–Whig) |
[29] | |||
The Right Honourable Charles Abbott 1st Baron Tenterden PCSL Lord Chief Justice (1762–1832) (interim) |
8 August 1827 | 5 September 1827 | Tory | Goderich | — | |||
The Right Honourable John Charles Herries MP for Harwich (1778–1855) |
5 September 1827 | 26 January 1828 | Tory | [30] | ||||
The Right Honourable Henry Goulburn FRS MP for Armagh (1784–1856) |
26 January 1828 | 22 November 1830 | Tory | Wellington–Peel | [24] | |||
William IV (1830–1837) | ||||||||
The Right Honourable John Spencer Viscount Althorp DLFRS MP for Northamptonshire → South Northamptonshire[1817 2] (1782–1845) |
22 November 1830 | 14 November 1834 | Whig | Grey | [24] | |||
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 | — | |||
The Right Honourable Sir Robert Peel BtFRS MP for Tamworth (1788–1850) |
15 December 1834 | 8 April 1835 | Conservative | Peel I | [24] | |||
The Right Honourable Thomas Spring Rice MP for Cambridge (1790–1866) |
18 April 1835 | 26 August 1839 | Whig | Melbourne II | [24] | |||
Victoria (1837–1901) | ||||||||
The Right Honourable Francis Baring MP for Portsmouth (1796–1866) |
26 August 1839 | 30 August 1841 | Whig | [24] | ||||
The Right Honourable Henry Goulburn FRS MP for Cambridge University (1784–1856) |
3 September 1841 | 27 June 1846 | Conservative | Peel II | [24] | |||
The Right Honourable Sir Charles Wood Bt MP for Halifax (1800–1885) |
6 July 1846 | 21 February 1852 | Whig | Russell I | [24] | |||
The Right Honourable Benjamin Disraeli MP for Buckinghamshire (1804–1881) |
27 February 1852 | 17 December 1852 | Conservative | Who? Who? | [24] | |||
The Right Honourable William Ewart Gladstone MP for Oxford University (1809–1898) |
28 December 1852 | 28 February 1855 | Peelite | Aberdeen (Peelite–Whig) |
[24] | |||
The Right Honourable Sir George Cornewall Lewis Bt MP for Radnor (1806–1863) |
28 February 1855 | 21 February 1858 | Whig | Palmerston I | [24] | |||
The Right Honourable Benjamin Disraeli MP for Buckinghamshire (1804–1881) |
26 February 1858 | 11 June 1859 | Conservative | Derby–Disraeli II | [24] | |||
The Right Honourable William Ewart Gladstone MP for Oxford University → South Lancashire[1817 3] (1809–1898) |
18 June 1859 | 26 June 1866 | Liberal | Palmerston II | [24] | |||
Russell II | ||||||||
The Right Honourable Benjamin Disraeli MP for Buckinghamshire (1804–1881) |
6 July 1866 | 29 February 1868 | Conservative | Derby–Disraeli III | [24] | |||
The Right Honourable George Ward Hunt MP for North Northamptonshire (1825–1877) |
29 February 1868 | 1 December 1868 | Conservative | [24] | ||||
The Right Honourable Robert Lowe MP for London University (1811–1892) |
9 December 1868 | 11 August 1873 | Liberal | Gladstone I | [24] | |||
The Right Honourable William Ewart Gladstone MP for Greenwich (1809–1898) |
11 August 1873 | 17 February 1874 | Liberal | [24] | ||||
The Right Honourable Sir Stafford Northcote BtGCBFRS MP for North Devonshire (1818–1887) |
21 February 1874 | 21 April 1880 | Conservative | Disraeli II | [24] | |||
The Right Honourable William Ewart Gladstone MP for Midlothian (1809–1898) |
28 April 1880 | 16 December 1882 | Liberal | Gladstone II | [24] | |||
The Right Honourable Hugh Childers MP for Pontefract (1827–1896) |
16 December 1882 | 9 June 1885 | Liberal | [24] | ||||
The Right Honourable Sir Michael Hicks Beach BtDL MP for Bristol West (1837–1916) |
24 June 1885 | 28 January 1886 | Conservative | Salisbury I | [24] | |||
The Right Honourable Sir William Harcourt QC MP for Derby (1827–1904) |
6 February 1886 | 20 July 1886 | Liberal | Gladstone III | [24] | |||
The Right Honourable Lord Randolph Churchill MP for Paddington South (1849–1895) |
3 August 1886 | 22 December 1886 | Conservative | Salisbury II | [24] | |||
The Right Honourable George Goschen DL MP for St George Hanover Square (1831–1907) |
14 January 1887 | 11 August 1892 | Liberal Unionist | [24] | ||||
The Right Honourable Sir William Harcourt QC MP for Derby (1827–1904) |
18 August 1892 | 21 June 1895 | Liberal | Gladstone IV | [24] | |||
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.) |
[24] | |||
Edward VII (1901–1910) | ||||||||
The Right Honourable Charles Ritchie MP for Croydon (1838–1906) |
11 August 1902 | 9 October 1903 | Conservative | Balfour | [24] | |||
The Right Honourable Austen Chamberlain MP for East Worcestershire (1863–1937) |
9 October 1903 | 4 December 1905 | Liberal Unionist | [24] | ||||
The Right Honourable Herbert Henry Asquith KC MP for East Fife (1852–1928) |
10 December 1905 | 16 April 1908 | Liberal | Campbell-Bannerman | [24] | |||
The Right Honourable David Lloyd George MP for Caernarvon Boroughs (1863–1945) |
16 April 1908 | 25 May 1915 | Liberal | Asquith (I–III) |
[31] | |||
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.) |
[24] | |||
The Right Honourable Bonar Law MP for Bootle → Glasgow Central[1817 4] (1858–1923) |
10 December 1916 | 10 January 1919 | Conservative | Lloyd George (I & II) |
[24] | |||
The Right Honourable Austen Chamberlain MP for Birmingham West (1863–1937) |
10 January 1919 | 1 April 1921 | Conservative | [24] | ||||
The Right Honourable Sir Robert Horne GBEKC MP for Glasgow Hillhead (1871–1940) |
1 April 1921 | 19 October 1922 | Conservative | [24] | ||||
The Right Honourable Stanley Baldwin JP MP for Bewdley (1867–1947) |
27 October 1922 | 27 August 1923 | Conservative | Law | [24] | |||
| Baldwin I | |||||||
The Right Honourable Neville Chamberlain MP for Birmingham Ladywood (1869–1940) |
27 August 1923 | 22 January 1924 | Conservative | [24] | ||||
The Right Honourable Philip Snowden MP for Colne Valley (1864–1937) |
22 January 1924 | 3 November 1924 | Labour | MacDonald I | [24] | |||
The Right Honourable Winston Churchill CHTD MP for Epping (1874–1965) |
6 November 1924 | 4 June 1929 | Conservative | Baldwin II | [24] | |||
The Right Honourable Philip Snowden MP for Colne Valley (1864–1937) |
7 June 1929 | 5 November 1931 | Labour | MacDonald II | [24] | |||
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 | [24] | |||
| 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 | [24] | |||
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) |
[24] | |||
| The Right Honourable Sir John Anderson GCBGCSIGCIEPC (Ire) MP for Combined Scottish Universities (1882–1958) |
24 September 1943 | 26 July 1945 | Independent (National) |
[24] | |||
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) |
[24] | |||
The Right Honourable Sir Stafford Cripps FRS MP for Bristol East → Bristol South East[1817 5] (1889–1952) |
13 November 1947 | 19 October 1950 | Labour | [24] | ||||
The Right Honourable Hugh Gaitskell CBE MP for Leeds South (1906–1963) |
19 October 1950 | 26 October 1951 | Labour | [24] | ||||
The Right Honourable Richard Austen Butler CH MP for Saffron Walden (1902–1982) |
26 October 1951 | 20 December 1955 | Conservative | Churchill III | [24] | |||
Elizabeth II (1952–2022) | ||||||||
Eden | ||||||||
The Right Honourable Harold Macmillan MP for Bromley (1894–1986) |
20 December 1955 | 13 January 1957 | Conservative | [24] | ||||
The Right Honourable Peter Thorneycroft MP for Monmouth (1909–1994) |
13 January 1957 | 6 January 1958 | Conservative | Macmillan (I & II) |
[24] | |||
The Right Honourable Derick Heathcoat-Amory TD MP for Tiverton (1899–1981) |
6 January 1958 | 27 July 1960 | Conservative | [24] | ||||
The Right Honourable Selwyn Lloyd CBEQC MP for Wirral (1904–1978) |
27 July 1960 | 13 July 1962 | Conservative | [24] | ||||
| The Right Honourable Reginald Maudling MP for Barnet (1917–1979) |
16 July 1962 | 16 October 1964 | Conservative | [32] | |||
Douglas-Home | ||||||||
The Right Honourable James Callaghan MP for Cardiff South East (1912–2005) |
17 October 1964 | 29 November 1967 | Labour | Wilson (I & II) |
[33] | |||
The Right Honourable Roy Jenkins MP for Birmingham Stechford (1920–2003) |
29 November 1967 | 19 June 1970 | Labour | [34] | ||||
The Right Honourable Iain Macleod MP for Enfield West (1913–1970) |
20 June 1970 | 20 July 1970† | Conservative | Heath | [24] | |||
The Right Honourable Anthony Barber TD MP for Altrincham and Sale (1920–2005) |
25 July 1970 | 4 March 1974 | Conservative | [24] | ||||
The Right Honourable Denis Healey MBE MP for Leeds East (1917–2015) |
5 March 1974 | 4 May 1979 | Labour | Wilson (III & IV) |
[24] | |||
Callaghan | ||||||||
The Right Honourable Sir Geoffrey Howe QC MP for East Surrey (1926–2015) |
4 May 1979 | 11 June 1983 | Conservative | Thatcher I | [24] | |||
The Right Honourable Nigel Lawson MP for Blaby (born 1932) |
11 June 1983 | 26 October 1989 | Conservative | Thatcher II | [24] | |||
| Thatcher III | |||||||
The Right Honourable John Major MP for Huntingdon (born 1943) |
26 October 1989 | 28 November 1990 | Conservative | [24] | ||||
The Right Honourable Norman Lamont MP for Kingston-upon-Thames (born 1942) |
28 November 1990 | 27 May 1993 | Conservative | Major I | [24] | |||
| Major II | |||||||
The Right Honourable Kenneth Clarke QC MP for Rushcliffe (born 1940) |
27 May 1993 | 2 May 1997 | Conservative | [24] | ||||
The Right Honourable Gordon Brown MP for Dunfermline East → Kirkcaldy and Cowdenbeath[1817 6] (born 1951) |
2 May 1997 | 27 June 2007 | Labour | Blair (I, II & III) |
[24] | |||
The Right Honourable Alistair Darling MP for Edinburgh South West (born 1953) |
28 June 2007 | 11 May 2010 | Labour | Brown | [35] | |||
The Right Honourable George Osborne MP for Tatton (born 1971) |
11 May 2010 | 13 July 2016 | Conservative | Cameron–Clegg (Con.–L.D.) |
[36] | |||
Cameron II | ||||||||
The Right Honourable Philip Hammond MP for Runnymede and Weybridge (born 1955) |
13 July 2016 | 24 July 2019 | Conservative | May (I & II) |
[37] | |||
The Right Honourable Sajid Javid MP for Bromsgrove (born 1969) |
24 July 2019 | 13 February 2020 | Conservative | Johnson I | [38][39] | |||
| Johnson II | |||||||
The Right Honourable Rishi Sunak MP for Richmond (Yorks) (born 1980) |
13 February 2020 | 5 July 2022 | Conservative | [40] | ||||
The Right Honourable Nadhim Zahawi MP for Stratford-on-Avon (born 1967) |
5 July 2022 | 6 September 2022 | Conservative | [41] | ||||
| The Right Honourable Kwasi Kwarteng MP for Spelthorne (born 1975) |
6 September 2022 | 14 October 2022 | Conservative | Truss | [42] | ||
Charles III (2022–present) | ||||||||
The Right Honourable Jeremy Hunt MP for South West Surrey (born 1966) |
14 October 2022 | Incumbent | Conservative | [43] | ||||
| Sunak | [44] |
- The Prince of Wales served as Prince Regent from 5 February 1811.
- Elected to a new constituency in the 1832 general election.
- Elected to a new constituency in the 1865 general election.
- Elected to a new constituency in the 1918 general election.
- Elected to a new constituency in the 1950 general election.
- Elected to a new constituency in the 2005 general election.
Timeline
1945–present
See also
- Shadow Chancellor of the Exchequer
- List of Lord High Treasurers of England and Great Britain
Notes
- Including honorifics and constituencies for elected MPs.
References
- "Past Residents". Dorneywood.
- 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.
- "Her Majesty's Government: The Cabinet". parliament.uk. Retrieved 30 June 2021.
- 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.
- Chrimes, Administrative History, pp. 62–63.
- "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.
- 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.
- "Gordon Brown: Chancellor of the Exchequer". Encyclopedia II. Experiencefestival.com. Archived from the original on 2 November 2012. Retrieved 2 May 2010.
- Ben Pimlott, Hugh Dalton (1985) pp 524–48.
- "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.
- 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.
- "History of Number 11 Downing Street". UK Government. Retrieved 16 October 2014.
- "Local History". Burnham Parish Council. Archived from the original on 1 October 2011.
- "Reluctant Chancellor makes a move to keep his mansion out of reach". Archived from the original on 5 June 2011. Retrieved 24 March 2010.
- "What is the Budget Box? Why is it red?". Birmingham Mail. 27 October 2021. Retrieved 4 February 2022.
- "Bye-bye budget box, hello backpack". The Guardian. 21 March 2011.
- Alistair Darling, Back from the Brink(2011)
- "The Budget and Parliament". Parliament of the United Kingdom. Retrieved 8 November 2015.
- Lydall, Ross (6 March 2008). "Chancellor names his preferred Budget tipple – a glass of plain London tap water". 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.
- "Photographb".
- "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.
- Vina, Gonzalo (10 December 2010). "www.bloomberg.com". Bloomberg.
- "Past Chancellors of the Exchequer". gov.uk. Government of the United Kingdom. Retrieved 7 September 2017.
- "No. 16611". The London Gazette. 9 June 1812. p. 1111.
- "Consolidated Fund Act 1816". section 2, Act No. 98 of 1816. Retrieved 18 November 2016.
- Haydn, Joseph; Ockerby, Horace, eds. (1890). "X (Ireland)". The Book of Dignities. London: W. H. Allen & Co. p. 562. OL 13505280M.
- "No. 17893". The London Gazette. 4 February 1823. p. 193.
- "No. 18356". The London Gazette. 27 April 1827. p. 937.
- "No. 18394". The London Gazette. 7 September 1827. p. 1892.
- "No. 28129". The London Gazette. 17 April 1908. p. 2937.
- "No. 42733". The London Gazette. 17 July 1962. p. 5731.
- "No. 43470". The London Gazette. 23 October 1964. p. 9014.
- "No. 44469". The London Gazette. 5 December 1967. p. 13287.
- "No. 58389". The London Gazette. 11 July 2007. p. 9979.
- "No. 59425". The London Gazette. 21 May 2010. p. 9405.
- "Philip Hammond appointed chancellor". BBC News. 13 July 2016. Retrieved 7 July 2017.
- "Sajid Javid confirmed as chancellor". The Guardian. 24 July 2019. Retrieved 24 July 2019.
- "Sajid Javid resigns as chancellor". BBC News. 13 February 2020. Retrieved 13 February 2020.
- "Who is Rishi Sunak? Meet Sajid Javid's replacement as Chancellor". Evening Standard. 13 February 2020. Retrieved 13 February 2020.
- "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.
- "Kwasi Kwarteng is the UK's new chancellor". POLITICO. 6 September 2022. Retrieved 28 September 2022.
- "Jeremy Hunt made chancellor after Liz Truss sacks Kwasi Kwarteng". Sky News. 14 October 2022. Retrieved 14 October 2022.
- Giles, Chris (25 October 2022). "Jeremy Hunt to remain as Chancellor". BBC News. Retrieved 25 October 2022.
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. 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).