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 Treasury. As one of the four Great Offices of State, the chancellor is a high-ranking member of the British Cabinet.
Alistair Maclean Darling, Baron Darling of Roulanish, was a British politician who served as Chancellor of the Exchequer under prime minister Gordon Brown from 2007 to 2010. A member of the Labour Party, he was a member of Parliament (MP) from 1987 to 2015, representing Edinburgh Central and Edinburgh South West.
George Gideon Oliver Osborne is a British retired politician and newspaper editor who served as Chancellor of the Exchequer from 2010 to 2016 and as First Secretary of State from 2015 to 2016 in the Cameron government. A member of the Conservative Party, he was Member of Parliament (MP) for Tatton from 2001 to 2017.
Philip Hammond, Baron Hammond of Runnymede is a British politician and life peer who served as Chancellor of the Exchequer from 2016 to 2019 and Foreign Secretary from 2014 to 2016, having previously served as Defence Secretary from 2011 to 2014 and Transport Secretary from 2010 to 2011. A member of the Conservative Party, he was the Member of Parliament (MP) for Runnymede and Weybridge from 1997 to 2019.
Sir Daniel Grian Alexander is a former politician who was Chief Secretary to the Treasury between 2010 and 2015. He was the Member of Parliament (MP) for the Inverness, Nairn, Badenoch & Strathspey constituency from 2005 until the general election in May 2015. In his first parliamentary term (2005–2010), Alexander was the Liberal Democrat spokesperson for Work and Pensions (2007–2008), the Chief of Staff to party leader Nick Clegg, and Chair of the Liberal Democrat Manifesto Group (2007–2010).
Benedict Michael Gummer is a British businessman and former politician. He is a partner of Gummer Leathes, a property developer. He is a senior adviser to McKinsey & Company, the management consultancy, a visiting fellow at the Blavatnik School of Government at Oxford University and a member of the advisory board of the Office for Place.
Edward Michael Balls is a British politician, broadcaster and economist who served as Secretary of State for Children, Schools and Families from 2007 to 2010, and as Shadow Chancellor of the Exchequer from 2011 to 2015. A member of Labour Co-op, he was the Member of Parliament (MP) for Normanton and later for Morley and Outwood between 2005 and 2015.
David Cameron's tenure as Prime Minister of the United Kingdom began on 11 May 2010 when he accepted an invitation from Queen Elizabeth II to form a government, succeeding Gordon Brown of the Labour Party, and ended on 13 July 2016 upon his resignation following the 2016 referendum that favoured Brexit, which he had opposed. As prime minister, Cameron simultaneously served as First Lord of the Treasury, Minister for the Civil Service and Leader of the Conservative Party.
The June 2010 United Kingdom Budget, officially also known as Responsibility, freedom, fairness: a five-year plan to re-build the economy, was delivered by George Osborne, Chancellor of the Exchequer, to the House of Commons in his budget speech that commenced at 12.33pm on Tuesday, 22 June 2010. It was the first budget of the Conservative-Liberal Democrat coalition formed after the general election of May 2010. The government dubbed it an "emergency budget", and stated that its purpose was to reduce the national debt accumulated under the Labour government.
The United Kingdom national debt is the total quantity of money borrowed by the Government of the United Kingdom at any time through the issue of securities by the British Treasury and other government agencies.
In the United Kingdom, the value added tax (VAT) was introduced in 1973, replacing Purchase Tax, and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994.
The United Kingdom government austerity programme was a fiscal policy that was adopted for a period in the early 21st century following the era of the Great Recession. Coalition and Conservative governments in office from 2010 to 2019 used the term, and it was applied again by many observers to describe Conservative Party policies from 2021 to 2024, during the cost of living crisis. With the exception of the Truss ministry, the governments in power over the second period did not formally re-adopt the term. The two austerity periods are separated by increased spending during the COVID-19 pandemic. The first period was one of the most extensive deficit reduction programmes seen in any advanced economy since the Second World War, with emphasis placed on shrinking the state, rather than consolidating fiscally as was more common elsewhere in Europe.
The 2012 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday 21 March 2012.
The 2013 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday 20 March 2013.
The 2014 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 19 March 2014.
David Cameron formed the second Cameron ministry, the first Conservative majority government since 1996, following the 2015 general election. Prior to the election Cameron had led his first ministry, the Cameron–Clegg coalition, a coalition government that consisted of members of the Conservatives and the Liberal Democrats, with Liberal Democrat leader Nick Clegg as Deputy Prime Minister.
The 2015 United Kingdom summer budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 8 July 2015.
The 2016 United Kingdom budget was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on Wednesday, 16 March 2016.
George Osborne served as Chancellor of the Exchequer from May 2010 to July 2016 in the David Cameron–Nick Clegg coalition Conservative-Liberal Democrat government and the David Cameron majority Conservative government. His tenure pursued austerity policies aimed at reducing the budget deficit and launched the Northern Powerhouse initiative. He had previously served as Shadow Chancellor in the Shadow Cabinet of David Cameron from 2005 to 2010.
The 1992 United Kingdom budget was delivered by Norman Lamont, the Chancellor of the Exchequer, to the House of Commons on 10 March 1992. It was the second budget to be presented by Lamont. It was also the last before the 1992 general election, which was called the following day, and shaped the Conservative Party's election campaign for that year.
