First Lord of the Treasury

Last updated

United Kingdom
First Lord of the Treasury
Royal Coat of Arms of the United Kingdom (HM Government) (2022).svg
Royal Arms of His Majesty's Government
Portrait of Prime Minister Rishi Sunak (cropped).jpg
Incumbent
Rishi Sunak
since 28 November 2022 [1]
Residence 10 Downing Street
Seat Westminster
Appointer The King
Term length At His Majesty's pleasure
Formation
  • 1126
    (as Lord High Treasurer)
  • 1612
    (as First Lord of the Commission of the Treasury)
  • 1714
    (commission permanent since resignation of the 1st Duke of Shrewsbury)
First holder
Deputy Second Lord of the Treasury
Website Gov.uk

The First Lord of the Treasury is the head of the Lords Commissioners of the Treasury exercising the ancient office of Lord High Treasurer in the United Kingdom. Constitutional convention holds that the office of First Lord is held by the Prime Minister. The office is not the United Kingdom's finance minister; this role is instead held by the Chancellor of the Exchequer, who is the second lord of the Treasury.

Contents

Lords of the Treasury

As of the beginning of the 17th century, the running of the Treasury was frequently entrusted to a commission, rather than to a single individual. Since 1714, it has permanently been in commission. The commissioners have always since that date been referred to as Lords Commissioners of the Treasury, and adopted ordinal numbers to describe their seniority. Eventually in the middle of the same century, the first lord of the Treasury came to be seen as the natural head of the overall ministry running the country, and, as of the time of Robert Walpole (Whig), began to be known, unofficially, as the prime minister.

The term prime minister was initially, but decreasingly, used as a term of derogation; it was first used officially in a royal warrant only in 1905.[ which? ] William Pitt the Younger said the prime minister "ought to be the person at the head of the finances"—though Pitt also served as chancellor of the exchequer for the entirety of his time as prime minister, so his linkage of the finance portfolio to the premiership was wider than merely proposing the occupation of the first lordship by the prime minister. [2]

Prior to 1841 the first lord of the Treasury also held the office of chancellor of the exchequer unless he was a peer and thus barred from that office; in this case, the second lord of the Treasury usually served as chancellor. Since 1841, the chancellor has always been second lord of the Treasury when he was not also prime minister. By convention, the other Lords Commissioners of the Treasury are also Government Whips in the House of Commons.

Official residence

10 Downing Street is the official residence of the first lord of the Treasury, not the office of prime minister. [3] Chequers, a country house in Buckinghamshire, is the official country residence of the prime minister, used as a weekend and holiday home, although the residence has also been used by other senior members of government.[ citation needed ]

List of first lords (1714–1922)

Much of this list overlaps with the list of prime ministers of the United Kingdom, but there are some notable differences, principally concerning Lord Salisbury, who was prime minister but not first lord in 1885–86, 1887–92 and 1895–1902. Those first lords who were simultaneously prime minister are indicated in bold; those who were considered prime minister only during part of their term are indicated in bold italic.

NameEntered officeLeft officeParty
The Earl of Halifax 13 October 171419 May 1715 Whig
The Earl of Carlisle 23 May 171510 October 1715Whig
Robert Walpole 10 October 171512 April 1717Whig
The Earl Stanhope 12 April 171721 March 1718Whig
The Earl of Sunderland 21 March 17184 April 1721Whig
Sir Robert Walpole 4 April 172111 February 1742Whig
The Earl of Wilmington 16 February 17422 July 1743Whig
Henry Pelham 27 August 174310 February 1746Whig
The Earl of Bath 10 February 174612 February 1746Whig
Henry Pelham 12 February 17466 March 1754Whig
The Duke of Newcastle 16 March 175416 November 1756Whig
The Duke of Devonshire 16 November 17568 June 1757Whig
The Earl Waldegrave 8 June 175712 June 1757Whig
The Duke of Devonshire 12 June 175725 June 1757Whig
The Duke of Newcastle 2 July 175726 May 1762Whig
The Earl of Bute 26 May 176216 April 1763 Tory
George Grenville 16 April 176313 July 1765Whig
The Marquess of Rockingham 13 July 176530 July 1766Whig
The Duke of Grafton [lower-alpha 1] 30 July 176628 January 1770Whig
Lord North 28 January 177022 March 1782Tory
The Marquess of Rockingham 27 March 17821 July 1782Whig
The Earl of Shelburne 4 July 17822 April 1783Whig
The Duke of Portland 2 April 178319 December 1783Whig
William Pitt the Younger 19 December 178314 March 1801Tory
Henry Addington 17 March 180110 May 1804Tory
William Pitt the Younger 10 May 180423 January 1806Tory
The Lord Grenville 11 February 180631 March 1807Whig
The Duke of Portland 31 March 18074 October 1809Whig
Spencer Perceval 4 October 180911 May 1812Tory
The Earl of Liverpool 9 June 181210 April 1827Tory
George Canning 10 April 18278 August 1827Tory
The Viscount Goderich 31 August 182722 January 1828Tory
The Duke of Wellington 22 January 182822 November 1830Tory
The Earl Grey 22 November 183016 July 1834Whig
The Viscount Melbourne 16 July 183414 November 1834Whig
The Duke of Wellington 14 November 183410 December 1834Tory
Sir Robert Peel 10 December 18348 April 1835Tory
The Viscount Melbourne 18 April 183530 August 1841Whig
Sir Robert Peel 30 August 184129 June 1846 Conservative
Lord John Russell 30 June 184623 February 1852Whig
The Earl of Derby 23 February 185219 December 1852Conservative
The Earl of Aberdeen 19 December 18526 February 1855 Peelite
The Viscount Palmerston 6 February 185520 February 1858 Liberal
The Earl of Derby 20 February 185812 June 1859Conservative
The Viscount Palmerston 12 June 185918 October 1865Liberal
The Earl Russell 29 October 186528 June 1866Liberal
The Earl of Derby 28 June 186627 February 1868Conservative
Benjamin Disraeli 27 February 18683 December 1868Conservative
William Ewart Gladstone 3 December 186820 February 1874Liberal
Benjamin Disraeli [lower-alpha 2] 20 February 187423 April 1880Conservative
William Ewart Gladstone 23 April 188023 June 1885Liberal
The Earl of Iddesleigh 29 June 18851 February 1886Conservative
William Ewart Gladstone 1 February 188625 July 1886Liberal
The Marquess of Salisbury [lower-alpha 3] 3 August 188614 January 1887Conservative
William Henry Smith 14 January 18876 October 1891Conservative
Arthur Balfour 6 October 189115 August 1892Conservative
William Ewart Gladstone 15 August 18925 March 1894Liberal
The Earl of Rosebery 5 March 189425 June 1895Liberal
Arthur Balfour [lower-alpha 4] 25 June 18955 December 1905Conservative
Henry Campbell-Bannerman 5 December 19053 April 1908Liberal
H. H. Asquith 8 April 19085 December 1916Liberal
David Lloyd George 6 December 191619 October 1922Liberal

Thereafter the posts of first lord and prime minister have continually been held by the same person (see List of prime ministers of the United Kingdom § 20th century).

See also

The front door of 10 Downing Street, showing the letter-box inscribed with "First Lord of the Treasury" Number 10 front door (7500511890).jpg
The front door of 10 Downing Street, showing the letter-box inscribed with "First Lord of the Treasury"

Notes

  1. ↑ Grafton became Prime Minister on 14 October 1768.
  2. ↑ Disraeli became Earl of Beaconsfield in 1876.
  3. ↑ Salisbury continued to serve as Prime Minister until 11 August 1892.
  4. ↑ Balfour became Prime Minister on 11 July 1902.

Related Research Articles

<span class="mw-page-title-main">Chancellor of the Exchequer</span> Lead minister of His Majestys Treasury

The chancellor of the Exchequer, often abbreviated to Chancellor, 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.

<span class="mw-page-title-main">HM Treasury</span> Ministerial department of the UK Government

His Majesty's Treasury, occasionally referred to as the Exchequer, or more informally the Treasury, is a department of His Majesty's Government responsible for developing and executing the government's public finance policy and economic policy. The Treasury maintains the Online System for Central Accounting and Reporting (OSCAR), the replacement for the Combined Online Information System (COINS), which itemises departmental spending under thousands of category headings, and from which the Whole of Government Accounts (WGA) annual financial statements are produced.

<span class="mw-page-title-main">10 Downing Street</span> Headquarters of the British government

10 Downing Street in London is the official residence and office of the Prime Minister of the United Kingdom.

In the United Kingdom, there are several Secretaries to the Treasury, who are Treasury ministers nominally acting as secretaries to HM Treasury. The origins of the office are unclear, although it probably originated during Lord Burghley's tenure as Lord Treasurer in the 16th century. The number of secretaries was expanded to two by 1714 at the latest. The Treasury ministers together discharge all the former functions of the Lord Treasurer, which are nowadays nominally vested in the Lords Commissioners of the Treasury. Of the Commissioners, only the Second Lord of the Treasury, who is also the Chancellor of the Exchequer, is a Treasury minister.

<span class="mw-page-title-main">Leader of the House of Lords</span> Member of the Cabinet of the United Kingdom

The leader of the House of Lords is a member of the Cabinet of the United Kingdom who is responsible for arranging government business in the House of Lords. The post is also the leader of the governing party in the House of Lords who acts as the government party chairperson in the house. The role is always held in combination with a formal Cabinet position, usually one of the sinecure offices of Lord President of the Council, Lord Keeper of the Privy Seal or Chancellor of the Duchy of Lancaster. Unless the Leader is also a departmental minister, being Leader constitutes the bulk of their government responsibilities, but it has never been an independent salaried office. The Office of the Leader of the House of Lords is a ministerial department.

<span class="mw-page-title-main">Lord High Treasurer</span> English government position

The Lord High Treasurer was an English government position and has been a British government position since the Acts of Union of 1707. A holder of the post would be the third-highest-ranked Great Officer of State in England, below the Lord High Steward and the Lord High Chancellor of Great Britain.

In the United Kingdom there are at least six Lords Commissioners of His Majesty's Treasury, serving as a commission for the ancient office of Treasurer of the Exchequer. The board consists of the First Lord of the Treasury, the Second Lord of the Treasury, and four or more junior lords acting as assistant whips in the House of Commons to whom this title is usually applied.

<span class="mw-page-title-main">Third Derby–Disraeli ministry</span>

The Conservative government of the United Kingdom of Great Britain and Ireland that began in 1866 and ended in 1868 was led by Lord Derby in the House of Lords and Benjamin Disraeli in the House of Commons.

<span class="mw-page-title-main">Records of prime ministers of the United Kingdom</span>

The article lists the records of prime ministers of the United Kingdom since 1721.

<span class="mw-page-title-main">Conservative government, 1922–1924</span> Government of the United Kingdom

The Conservative Government of the United Kingdom that began in 1922 and ended in 1924 consisted of two ministries: the Law ministry and then the first Baldwin ministry.

<span class="mw-page-title-main">Second Baldwin ministry</span> Government of the United Kingdom

Stanley Baldwin of the Conservative Party formed the second Baldwin ministry upon his reappointment as Prime Minister of the United Kingdom by King George V after the 1924 general election. His second ministry ended following the so-called "Flapper Election" of May 1929.

<span class="mw-page-title-main">Third Churchill ministry</span> UK government, 1951–1955

Winston Churchill formed the third Churchill ministry in the United Kingdom following the 1951 general election. He was reappointed as Prime Minister of the United Kingdom by King George VI and oversaw the accession of Queen Elizabeth II in 1952 and her coronation.

<span class="mw-page-title-main">Conservative government, 1957–1964</span>

The Conservative government of the United Kingdom that began in 1957 and ended in 1964 consisted of three ministries: the first Macmillan ministry, second Macmillan ministry, and then the Douglas-Home ministry. They were respectively led by Harold Macmillan and Sir Alec Douglas-Home, who were appointed by Queen Elizabeth II.

A grace-and-favour home is a residential property owned by a monarch by virtue of his or her position as head of state and leased, often rent-free, to persons as part of an employment package or in gratitude for past services rendered.

<span class="mw-page-title-main">Liberal government, 1905–1915</span>

The Liberal government of the United Kingdom of Great Britain and Ireland that began in 1905 and ended in 1915 consisted of two ministries: the first led by Henry Campbell-Bannerman and the final three by H. H. Asquith.

<span class="mw-page-title-main">Canningite government, 1827–1828</span> Government of the United Kingdom

The Canningites, led by George Canning and then the Viscount Goderich as First Lord of the Treasury, governed the United Kingdom of Great Britain and Ireland from 1827 until 1828.

<span class="mw-page-title-main">Third Thatcher ministry</span> Government of the United Kingdom from 1987 to 1990

Margaret Thatcher was Prime Minister of the United Kingdom from 4 May 1979 to 28 November 1990, during which time she led a Conservative majority government. She was the first woman to hold that office. During her premiership, Thatcher moved to liberalise the British economy through deregulation, privatisation, and the promotion of entrepreneurialism.

The position of Prime Minister of the United Kingdom was not created as a result of a single action; it evolved slowly and organically over three hundred years due to numerous Acts of Parliament, political developments, and accidents of history.

<span class="mw-page-title-main">Great Officers of State (United Kingdom)</span> Ceremonial ministers of the Crown

In the United Kingdom, the Great Officers of State are traditional ministers of the Crown who either inherit their positions or are appointed to exercise certain largely ceremonial functions or to operate as members of the government. Separate Great Officers exist for England and Wales, Scotland, and formerly for Ireland, though some exist for Great Britain and the United Kingdom as a whole.

References

  1. ↑ "Crown Office". thegazette.co.uk. Retrieved 1 December 2022.
  2. ↑ Blick & Jones 2010.
  3. ↑ First Lord of the Treasury, gov.uk, retrieved 22 March 2018

Sources

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.