Chancellor of the Exchequer

Not to be confused with Chancellor of the Exchequer of Ireland, Lord Chancellor, Chancellor of the Duchy of Lancaster, Chancellor of the High Court, or Chief Baron of the Exchequer.

Chancellor of the Exchequer
Royal Arms of Her Majesty's Government
Incumbent Rishi Sunak since 13 February 2020 (2020-02-13)
Her Majesty's Treasury
Style	Chancellor (informal) The Right Honourable (within the UK and the Commonwealth)
Member of	Cabinet Privy Council National Security Council
Reports to	Prime Minister of the United Kingdom
Residence	11 Downing Street
Seat	Westminster
Appointer	The Monarch on advice of the Prime Minister
Term length	At Her 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	£71,090 (excluding £79,468 salary as MP)
Website	www.gov.uk

The Chancellor and Under-Treasurer of Her Majesty's Exchequer, commonly known as the Chancellor of the Exchequer, ^{[lower-alpha 1]} or simply the Chancellor, ^[1] is a senior official within the Government of the United Kingdom and head of Her Majesty's Treasury. The office is a British Cabinet-level position.

The chancellor is responsible for all economic and financial matters, equivalent to the role of finance minister in other nations. The position is considered one of the four Great Offices of State, and in recent times has come to be the most powerful office in British politics after the prime minister.

The Chancellor of the Exchequer is now always Second Lord of the Treasury as one of the Lords Commissioners for executing the office of Lord High Treasurer. 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; it originally carried responsibility for the Exchequer, the medieval English institution for the collection and auditing of royal revenues. The earliest surviving records which are the results of the exchequer's audit, date from 1129–30 under King Henry I and show continuity from previous years. ^[3] The chancellor controlled monetary policy as well as fiscal policy until 1997, when the Bank of England was granted independent control of its interest rates. The chancellor also has oversight of public spending across Government departments.

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

Main article: 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.^{[ citation needed ]}

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)

This list is incomplete; you can help by expanding it.

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 MP for Buckinghamshire [1558 1] → Middlesex [1558 2] (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 (1609–1674)	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	Carmarthen–Halifax		[20]
	Richard Hampden MP for Buckinghamshire (c. 1631 –1695)	18 March 1690	10 May 1694	Carmarthen		[20]
	The Right Honourable Charles Montagu FRS MP for Maldon → Westminster [1558 4] (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 MP for Cambridge University → Westminster [1558 5] (1669–1725)	27 March 1701	22 April 1708			[20]
				Godolphin–Marlborough ( Tory–Whig )	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 ( Tory–Whig )	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 I		[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] (1676–1745)	3 April 1721	12 February 1742	Whig	Walpole–Townshend		[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 (1705–1793) (interim)	13 April 1757	2 July 1757	Whig			[20]
						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		[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 (1708–1781)	29 May 1762	16 April 1763	Tory	Bute ( Tory–Whig )		[20]
		The Right Honourable George Grenville MP for Buckingham (1712–1770)	16 April 1763	16 July 1765	Whig	Grenville ( Whig–Tory )		[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 ( Whig–Tory )		[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 ( Whig–Tory )		[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 MP for Appleby → Cambridge University [1708 5] (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 (1750–1818) (interim)	23 January 1806	5 February 1806	Tory	All the Talents ( Whig–Tory )		[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 MP for East Grinstead → Harwich [1708 6] (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 ( Canningite–Whig )		[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	Wellington–Peel		[20]
							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		[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 (1788–1850)	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 ( Peelite–Whig )		[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	Derby–Disraeli II		[20]
		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		[20]
						Russell II
		The Right Honourable Benjamin Disraeli MP for Buckinghamshire (1804–1881)	6 July 1866	29 February 1868	Conservative	Derby–Disraeli 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 (1818–1887)	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 (1837–1916)	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 H. H. 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 MP for Bootle → Glasgow Central [1817 4] (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 MP for Bristol East → Bristol South East [1817 5] (1889–1952)	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 MP for Dunfermline East → Kirkcaldy and Cowdenbeath [1817 6] (born 1951)	2 May 1997	27 June 2007	Labour	Blair (I–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)	12 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

• Politics portal
• United Kingdom portal

• Shadow Chancellor of the Exchequer
• List of Lord High Treasurers of England and Great Britain

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. https://www.telegraph.co.uk/business/2016/07/13/who-is-philip-hammond-britains-new-chancellor-and-what-are-like/
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. The Guardian, 11 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".
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).

External links

• Media related to Chancellors of the Exchequer at Wikimedia Commons