Chancellor of the Exchequer - wikipedia 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 used by Her Majesty 's Government Incumbent Philip Hammond since 13 July 2016 ( 2016 - 07 - 13 ) HM Treasury Style The Right Honourable ( formal prefix ) Chancellor Member of Cabinet Privy Council National Security Council Reports to Prime Minister of the United Kingdom Residence 11 Downing Street Seat Westminster Appointer Monarch of the United Kingdom Term length At Her Majesty 's pleasure Inaugural holder Hervey de Stanton ( England only ) Formation 22 June 1316 Deputy Elizabeth Truss as Chief Secretary to the Treasury Salary £ 69,552 excluding salary as MP Website Official website The Chancellor and Under - Treasurer of Her Majesty 's Exchequer, commonly known as the Chancellor of the Exchequer, or simply the Chancellor, 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. 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 which dates from the Anglo - Saxon period and survived the Norman conquest of England. 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. 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. The current Chancellor of the Exchequer is Philip Hammond. Contents 1 Second Lord of the Treasury 2 Roles and responsibilities 2.1 Fiscal policy 2.2 Monetary policy 2.3 Ministerial arrangements 3 Perquisites of the office 3.1 Official residence 3.2 Dorneywood 3.3 Budget box 3.4 Budget tipple 3.5 Robe of office 4 List of Chancellors of the Exchequer 4.1 Chancellors of the Exchequer of England ( c. 1221 -- c. 1558 ) 4.2 Chancellor of the Exchequer of England ( c. 1558 -- 1708 ) 4.3 Chancellors of the Exchequer of Great Britain ( 1708 -- 1817 ) 4.4 Chancellors of the Exchequer of the United Kingdom ( 1817 -- present ) 5 See also 6 Notes and references 7 Further reading 8 External links 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. 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. 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. 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. 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. 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 Finance Bills under the Parliament Acts, the office has since the early 20th century been effectively limited to members of the House of Commons. The chancellor holds the formerly independent office of Master of the Mint as a subsidiary office. Perquisites of the office Official residence The Chancellor 's official residence, since 1828, is No. 11 Downing Street. 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 ) of parkland, was allocated to Deputy Prime Minister John Prescott. It reverted to the chancellor in 2007, then Alistair Darling. Budget box Budget box or Gladstone box, c. 1860 The chancellor traditionally carries his Budget speech to the House of Commons in a particular red Despatch Box. The Chancellor 's red briefcase is identical to the briefcases used by all other government ministers ( known as ministerial boxes or `` Despatch Boxes '' ) to transport their official papers but is better known because the chancellor traditionally displays the briefcase, containing the Budget speech, to the press in the morning before delivering the speech. The original Budget briefcase was first used by William Ewart Gladstone in 1853 and continued in use until 1965 when James Callaghan was the first chancellor to break with tradition when he used a newer box. Prior to Gladstone, a generic red Despatch Box of varying design and specification was used. The practice is said to have begun in the late 16th century, when Queen Elizabeth I 's representative Francis Throckmorton presented the Spanish Ambassador, Bernardino de Mendoza, with a specially constructed red briefcase filled with black puddings. In July 1997, Gordon Brown became the second chancellor to use a new box for the Budget. Made by industrial trainees at Babcock Rosyth Defence Ltd ship and submarine dockyard in Fife, the new box is made of yellow pine, with a brass handle and lock, covered in scarlet leather and embossed with the Royal cypher and crest and the Chancellor 's title. In his first Budget, in March 2008, Alistair Darling reverted to using the original budget briefcase and his successor, George Osborne, continued this tradition for his first budget, before announcing that it would be retired due to its fragile condition. The key to the original budget box has been lost. 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 ). The recent chancellors, George Osborne, Alistair Darling and Gordon Brown, 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. Robe of office The chancellor has a robe of office, 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 ) ' went missing ' during Gordon Brown 's time as chancellor. 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 ( 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 ) 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 ) 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 ) Richard III ( 1483 -- 1485 ) Sir Thomas Lovell Speaker of the House of Commons ( died 1524 ) c. August 1485 1524 Henry VII ( 1485 -- 1509 ) ​ Henry VIII ( 1509 -- 1547 ) John Bourchier 2nd Baron Berners PC ( 1467 -- 1533 ) 1524 1533 ? Thomas Cromwell 1st Earl of Essex KG PC 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 ) Mary I ( 1553 -- 1558 ) ^ † Died in office. Jump up ^ Served until 1264. Jump up ^ Lord Lancaster served as Regent of England during the minority of Edward III. Jump up ^ The Regency government led by the Regency Council governed England during the minority of Henry VI. Jump up ^ The Duke of Gloucester served as Regent of England during the reign of Edward V. Jump up ^ Served until 1488. Jump up ^ Margaret Beaufort served as Regent of England during the minority of Henry VIII. Jump up ^ The Duke of Somerset and Duke of Northumberland served as Regent of England respectively during the reign of Edward VI. Chancellor of the Exchequer of England ( c. 1558 -- 1708 ) Chancellor of the Exchequer of England Portrait Name ( 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 ) Sir Walter Mildmay MP for Northamptonshire ( c. 1523 -- 1589 ) 1566 31 May 1589 Sir John Fortescue MP for Buckinghamshire -- Middlesex ( c. 1531 -- 1607 ) 1589 1603 James I ( 1603 -- 1625 ) The Right Honourable George Home 1st Earl of Dunbar PC ( c. 1556 -- 1611 ) 24 May 1603 April 1606 Sir Julius Caesar MP for Middlesex ( 1557 / 1558 -- 1636 ) 11 April 1606 1614 The Right Honourable Sir Fulke Greville KB MP for Warwickshire ( 1554 -- 1628 ) 15 October 1614 1621 The Right Honourable Sir Richard Weston KG MP for 4 constituencies respectively ( 1577 -- c. 1634 ) 29 January 1621 15 July 1628 Charles I ( 1625 -- 1649 ) The Right Honourable Edward Barrett 1st Lord Barrett of Newburgh PC ( 1581 -- c. 1645 ) 14 August 1628 1629 The Right Honourable Francis Cottington 1st Baron Cottington PC ( c. 1579 -- 1652 ) 18 April 1629 6 January 1642 Sir John Colepeper MP for Kent ( c. 1600 -- 1660 ) 6 January 1642 22 February 1643 The Right Honourable Sir Edward Hyde ( 1609 -- 1674 ) February 1643 1646 Vacancy during the Interregnum ( 1649 -- 1660 ) Portrait Name ( Birth -- Death ) Term of office Ministry Monarch ( Reign ) Ref. The Right Honourable Edward Hyde 1st Baron Hyde Kt PC ( 1609 -- 1674 ) 1660 13 May 1661 Clarendon Charles II ( 1660 -- 1685 ) The Right Honourable Anthony Ashley Cooper 1st Baron Ashley PC ( 1621 -- 1683 ) 13 May 1661 22 November 1672 Cabal Sir John Duncombe MP for Bury St Edmunds ( 1622 -- 1687 ) 22 November 1672 2 May 1676 Danby I ​ Sir John Ernle MP for 4 constituencies respectively ( 1620 -- 1697 ) 2 May 1676 9 April 1689 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 Richard Hampden MP for Buckinghamshire ( c. 1631 -- 1695 ) 18 March 1690 10 May 1694 Carmarthen The Right Honourable Charles Montagu FRS MP for Maldon -- Westminster ( 1661 -- 1715 ) 10 May 1694 31 May 1699 Whig Junto I William III ( 1694 -- 1702 ) Sir John Smith MP for Andover ( 1655 / 56 -- 1723 ) 31 May 1699 23 March 1701 Pembroke ​ Henry Boyle MP for Cambridge University -- Westminster ( 1669 -- 1725 ) 27 March 1701 22 April 1708 Godolphin -- Marlborough ( Tory -- Whig ) Anne ( 1702 -- 1714 ) ​ Jump up ^ Served until 1589 during the 9th Parliament of Queen Elizabeth I. Jump up ^ Served from 1601 prior to the Golden Speech. Jump up ^ Served during the 3rd Parliament of King James I in 1621. Jump up ^ Elected to a new constituency in the 1695 general election. Jump up ^ 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 Portrait Name ( 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 ) The Right Honourable Robert Harley MP for Radnor ( 1661 -- 1724 ) 11 August 1710 4 June 1711 Tory Oxford -- Bolingbroke The Right Honourable Robert Benson MP for York ( c. 1676 -- 1731 ) 4 June 1711 21 August 1713 Tory The Right Honourable Sir William Wyndham Bt MP for Somerset ( c. 1688 -- 1740 ) 21 August 1713 13 October 1714 Tory George I ( 1714 -- 1727 ) The Right Honourable Sir Richard Onslow Bt MP for Surrey ( 1654 -- 1717 ) 13 October 1714 12 October 1715 Whig Townshend I The Right Honourable Robert Walpole MP for King 's Lynn ( 1676 -- 1745 ) 12 October 1715 15 April 1717 Whig The Right Honourable James Stanhope 1st Earl Stanhope PC ( c. 1673 -- 1721 ) 15 April 1717 20 March 1718 Whig Stanhope -- Sunderland I The Right Honourable John Aislabie MP for Ripon ( 1670 -- 1742 ) 20 March 1718 23 January 1721 Whig Stanhope -- Sunderland II The Right Honourable Sir John Pratt Lord Chief Justice ( 1657 -- 1725 ) ( interim ) 2 February 1721 3 April 1721 Whig The Right Honourable Robert Walpole 1st Earl of Orford KG KB PC MP for King 's Lynn ( 1676 -- 1745 ) 3 April 1721 12 February 1742 Whig Walpole -- Townshend George II ( 1727 -- 1760 ) Walpole The Right Honourable Samuel Sandys MP for Worcester ( 1695 -- 1770 ) 12 February 1742 12 December 1743 Whig Carteret ​ The Right Honourable Henry Pelham FRS MP for Sussex ( 1694 -- 1754 ) 12 December 1743 8 March 1754 Whig 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 The Right Honourable Henry Bilson - Legge FRS MP for Orford ( 1708 -- 1764 ) 6 April 1754 25 November 1755 Whig The Right Honourable Sir George Lyttelton Bt MP for Okehampton ( 1709 -- 1773 ) 25 November 1755 16 November 1756 Whig The Right Honourable Henry Bilson - Legge MP for Orford ( 1708 -- 1764 ) 16 November 1756 13 April 1757 Whig Pitt -- Devonshire The Right Honourable William Murray 1st Earl of Mansfield PC SL Lord Chief Justice ( 1705 -- 1793 ) ( interim ) 13 April 1757 2 July 1757 Whig 1757 Caretaker The Right Honourable Henry Bilson - Legge MP for Orford -- Hampshire ( 1708 -- 1764 ) 2 July 1757 19 March 1761 Whig Pitt -- Newcastle George III ( 1760 -- 1820 ) The Right Honourable William Barrington 2nd Viscount Barrington PC MP for Plymouth ( 1717 -- 1793 ) 19 March 1761 29 May 1762 Whig The Right Honourable Sir Francis Dashwood Bt FRS MP for Weymouth and Melcombe Regis ( 1708 -- 1781 ) 29 May 1762 16 April 1763 Tory Bute ( Tory -- Whig ) The Right Honourable George Grenville MP for Buckingham ( 1712 -- 1770 ) 16 April 1763 16 July 1765 Whig Grenville ( Whig -- Tory ) The Right Honourable William Dowdeswell MP for Worcestershire ( 1721 -- 1775 ) 16 July 1765 2 August 1766 Whig Rockingham I The Right Honourable Charles Townshend MP for Harwich ( 1725 -- 1767 ) 2 August 1766 4 September 1767 Whig Chatham ( Whig -- Tory ) ​ The Right Honourable Frederick North Lord North KG MP for Banbury ( 1732 -- 1792 ) 11 September 1767 27 March 1782 Tory Grafton North The Right Honourable Lord John Cavendish MP for York ( 1732 -- 1796 ) 27 March 1782 10 July 1782 Whig Rockingham II The Right Honourable William Pitt the Younger MP for Appleby ( 1759 -- 1806 ) 10 July 1782 31 March 1783 Whig Shelburne ( Whig -- Tory ) The Right Honourable Lord John Cavendish MP for York ( 1732 -- 1796 ) 2 April 1783 19 December 1783 Whig Fox -- North The Right Honourable William Pitt the Younger MP for Appleby -- Cambridge University ( 1759 -- 1806 ) 19 December 1783 14 March 1801 Tory Pitt I The Right Honourable Henry Addington MP for Devizes ( 1757 -- 1844 ) 14 March 1801 10 May 1804 Tory Addington The Right Honourable William Pitt the Younger MP for Cambridge University ( 1759 -- 1806 ) 10 May 1804 23 January 1806 Tory Pitt II The Right Honourable Edward Law 1st Baron Ellenborough PC KC FSA Lord Chief Justice ( 1750 -- 1818 ) ( interim ) 23 January 1806 5 February 1806 Tory All the Talents ( Whig -- Tory ) The Right Honourable Lord Henry Petty - Fitzmaurice MP for Cambridge University ( 1780 -- 1863 ) 5 February 1806 26 March 1807 Whig The Right Honourable Spencer Perceval KC MP for Northampton ( 1762 -- 1812 ) 26 March 1807 11 May 1812 Tory Portland II Perceval The Right Honourable Nicholas Vansittart MP for East Grinstead -- Harwich ( 1766 -- 1851 ) 9 June 1812 12 July 1817 Tory Liverpool Jump up ^ Lord Parker served as Regent of Great Britain from 1 August to 18 September 1714. Jump up ^ Elevated to the Peerage of Great Britain on 6 February 1742. Jump up ^ Elected to a new constituency in the Hampshire by - election. Jump up ^ The Prince of Wales served as Prince Regent from 5 February 1811. Jump up ^ Elected to a new constituency in the 1784 general election. Jump up ^ 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. 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 Portrait Name ( 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 ) ​ George IV ( 1820 -- 1830 ) The Right Honourable Frederick John Robinson MP for Ripon ( 1782 -- 1859 ) 31 January 1823 27 April 1827 Tory The Right Honourable George Canning FRS MP for Seaford ( 1770 -- 1827 ) 27 April 1827 8 August 1827 Tory Canning ( Canningite -- Whig ) The Right Honourable Charles Abbott 1st Baron Tenterden PC SL 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 The Right Honourable Henry Goulburn FRS MP for Armagh ( 1784 -- 1856 ) 26 January 1828 22 November 1830 Tory Wellington -- Peel William IV ( 1830 -- 1837 ) The Right Honourable John Spencer 3rd Viscount Althorp DL FRS MP for Northamptonshire -- South Northamptonshire ( 1782 -- 1845 ) 22 November 1830 14 November 1834 Whig Grey 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 Bt FRS MP for Tamworth ( 1788 -- 1850 ) 15 December 1834 8 April 1835 Conservative Peel I The Right Honourable Thomas Spring Rice MP for Cambridge ( 1790 -- 1866 ) 18 April 1835 26 August 1839 Whig Melbourne II Victoria ( 1837 -- 1901 ) The Right Honourable Francis Baring MP for Portsmouth ( 1796 -- 1866 ) 26 August 1839 30 August 1841 Whig The Right Honourable Henry Goulburn FRS MP for Cambridge University ( 1784 -- 1856 ) 3 September 1841 27 June 1846 Conservative Peel II The Right Honourable Sir Charles Wood Bt MP for Halifax ( 1800 -- 1885 ) 6 July 1846 21 February 1852 Whig Russell I The Right Honourable Benjamin Disraeli MP for Buckinghamshire ( 1804 -- 1881 ) 27 February 1852 17 December 1852 Conservative Who ? Who ? The Right Honourable William Ewart Gladstone MP for Oxford University ( 1809 -- 1898 ) 28 December 1852 28 February 1855 Peelite Aberdeen ( Peelite -- Whig ) The Right Honourable Sir George Cornewall Lewis Bt MP for Radnor ( 1806 -- 1863 ) 28 February 1855 21 February 1858 Whig Palmerston I The Right Honourable Benjamin Disraeli MP for Buckinghamshire ( 1804 -- 1881 ) 26 February 1858 11 June 1859 Conservative Derby -- Disraeli II The Right Honourable William Ewart Gladstone MP for Oxford University -- South Lancashire ( 1809 -- 1898 ) 18 June 1859 26 June 1866 Liberal Palmerston II Russell II The Right Honourable Benjamin Disraeli MP for Buckinghamshire ( 1804 -- 1881 ) 6 July 1866 29 February 1868 Conservative Derby -- Disraeli III The Right Honourable George Ward Hunt MP for North Northamptonshire ( 1825 -- 1877 ) 29 February 1868 1 December 1868 Conservative The Right Honourable Robert Lowe MP for London University ( 1811 -- 1892 ) 9 December 1868 11 August 1873 Liberal Gladstone I The Right Honourable William Ewart Gladstone MP for Greenwich ( 1809 -- 1898 ) 11 August 1873 17 February 1874 Liberal The Right Honourable Sir Stafford Northcote Bt GCB FRS MP for North Devonshire ( 1818 -- 1887 ) 21 February 1874 21 April 1880 Conservative Disraeli II The Right Honourable William Ewart Gladstone MP for Midlothian ( 1809 -- 1898 ) 28 April 1880 16 December 1882 Liberal Gladstone II The Right Honourable Hugh Childers MP for Pontefract ( 1827 -- 1896 ) 16 December 1882 9 June 1885 Liberal The Right Honourable Sir Michael Hicks Beach Bt DL MP for Bristol West ( 1837 -- 1916 ) 24 June 1885 28 January 1886 Conservative Salisbury I The Right Honourable Sir William Vernon Harcourt QC MP for Derby ( 1827 -- 1904 ) 6 February 1886 20 July 1886 Liberal Gladstone III The Right Honourable Lord Randolph Churchill MP for Paddington South ( 1849 -- 1895 ) 3 August 1886 22 December 1886 Conservative Salisbury II The Right Honourable George Goschen DL MP for St George Hanover Square ( 1831 -- 1907 ) 14 January 1887 11 August 1892 Liberal Unionist The Right Honourable Sir William Vernon Harcourt QC MP for Derby ( 1827 -- 1904 ) 18 August 1892 21 June 1895 Liberal Gladstone IV Rosebery The Right Honourable Sir Michael Hicks Beach Bt DL MP for Bristol West ( 1837 -- 1916 ) 29 June 1895 11 August 1902 Conservative Salisbury III ( Con. -- Lib. U. ) Edward VII ( 1901 -- 1910 ) The Right Honourable Charles Ritchie MP for Croydon ( 1838 -- 1906 ) 11 August 1902 9 October 1903 Conservative Balfour The Right Honourable Austen Chamberlain MP for East Worcestershire ( 1863 -- 1937 ) 9 October 1903 4 December 1905 Liberal Unionist The Right Honourable Herbert Henry Asquith KC MP for East Fife ( 1852 -- 1928 ) 10 December 1905 16 April 1908 Liberal Campbell - Bannerman The Right Honourable David Lloyd George MP for Caernarvon Boroughs ( 1863 -- 1945 ) 16 April 1908 25 May 1915 Liberal Asquith I George V ( 1910 -- 1936 ) The Right Honourable Reginald McKenna MP for North Monmouthshire ( 1863 -- 1943 ) 25 May 1915 10 December 1916 Liberal Asquith II ( Lib. -- Con. -- et al. ) The Right Honourable Bonar Law MP for Bootle -- Glasgow Central ( 1858 -- 1923 ) 10 December 1916 10 January 1919 Conservative Lloyd George ( I & II ) The Right Honourable Austen Chamberlain MP for Birmingham West ( 1863 -- 1937 ) 10 January 1919 1 April 1921 Conservative The Right Honourable Sir Robert Horne GBE KC MP for Glasgow Hillhead ( 1871 -- 1940 ) 1 April 1921 19 October 1922 Conservative The Right Honourable Stanley Baldwin JP MP for Bewdley ( 1867 -- 1947 ) 27 October 1922 27 August 1923 Conservative Law ​ Baldwin I The Right Honourable Neville Chamberlain MP for Birmingham Ladywood ( 1869 -- 1940 ) 27 August 1923 22 January 1924 Conservative The Right Honourable Philip Snowden MP for Colne Valley ( 1864 -- 1937 ) 22 January 1924 3 November 1924 Labour MacDonald I The Right Honourable Winston Churchill CH TD MP for Epping ( 1874 -- 1965 ) 6 November 1924 4 June 1929 Conservative Baldwin II The Right Honourable Philip Snowden MP for Colne Valley ( 1864 -- 1937 ) 7 June 1929 5 November 1931 Labour MacDonald II 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 ​ National III ( Con. -- N. Lab. -- et al. ) Edward VIII ( 1936 ) ​ George VI ( 1936 -- 1952 ) The Right Honourable Sir John Simon GCSI GCVO OBE MP for Spen Valley ( 1873 -- 1954 ) 28 May 1937 12 May 1940 Liberal National National IV 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 ) ​ The Right Honourable Sir John Anderson GCB GCSI GCIE PC ( Ire. ) MP for Combined Scottish Universities ( 1882 -- 1958 ) 24 September 1943 26 July 1945 Independent ( National ) 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 ) The Right Honourable Sir Stafford Cripps FRS MP for Bristol East -- Bristol South East ( 1889 -- 1952 ) 13 November 1947 19 October 1950 Labour The Right Honourable Hugh Gaitskell CBE MP for Leeds South ( 1906 -- 1963 ) 19 October 1950 26 October 1951 Labour The Right Honourable Richard Austen Butler CH MP for Saffron Walden ( 1902 -- 1982 ) 26 October 1951 20 December 1955 Conservative Churchill III ​ Elizabeth II ( 1952 -- present ) Eden The Right Honourable Harold Macmillan MP for Bromley ( 1894 -- 1986 ) 20 December 1955 13 January 1957 Conservative The Right Honourable Peter Thorneycroft MP for Monmouth ( 1909 -- 1994 ) 13 January 1957 6 January 1958 Conservative Macmillan ( I & II ) The Right Honourable Derick Heathcoat - Amory TD MP for Tiverton ( 1899 -- 1981 ) 6 January 1958 27 July 1960 Conservative The Right Honourable Selwyn Lloyd CBE QC MP for Wirral ( 1904 -- 1978 ) 27 July 1960 13 July 1962 Conservative ​ The Right Honourable Reginald Maudling MP for Barnet ( 1917 -- 1979 ) 16 July 1962 16 October 1964 Conservative Douglas - Home The Right Honourable James Callaghan MP for Cardiff South East ( 1912 -- 2005 ) 17 October 1964 29 November 1967 Labour Wilson ( I & II ) The Right Honourable Roy Jenkins MP for Birmingham Stechford ( 1920 -- 2003 ) 29 November 1967 19 June 1970 Labour The Right Honourable Iain Macleod MP for Enfield West ( 1913 -- 1970 ) 20 June 1970 20 July 1970 Conservative Heath The Right Honourable Anthony Barber TD MP for Altrincham and Sale ( 1920 -- 2005 ) 25 July 1970 4 March Conservative The Right Honourable Denis Healey MBE MP for Leeds East ( 1917 -- 2015 ) 5 March 4 May 1979 Labour Wilson ( III & IV ) Callaghan The Right Honourable Sir Geoffrey Howe QC MP for East Surrey ( 1926 -- 2015 ) 4 May 1979 11 June Conservative Thatcher I The Right Honourable Nigel Lawson MP for Blaby ( born 1932 ) 11 June 26 October 1989 Conservative Thatcher II ​ Thatcher III The Right Honourable John Major MP for Huntingdon ( born 1943 ) 26 October 1989 28 November 1990 Conservative The Right Honourable Norman Lamont MP for Kingston - upon - Thames ( born 1942 ) 28 November 1990 27 May 1993 Conservative Major I ​ Major II The Right Honourable Kenneth Clarke QC MP for Rushcliffe ( born 1940 ) 27 May 1993 2 May 1997 Conservative The Right Honourable Gordon Brown MP for Dunfermline East -- Kirkcaldy and Cowdenbeath ( born 1951 ) 2 May 1997 27 June 2007 Labour Blair ( I -- III ) The Right Honourable Alistair Darling MP for Edinburgh South West ( born 1953 ) 29 June 2007 11 May Labour Brown The Right Honourable George Osborne MP for Tatton ( born 1971 ) 12 May 13 July 2016 Conservative Cameron -- Clegg ( Con. -- L.D. ) Cameron II The Right Honourable Philip Hammond MP for Runnymede and Weybridge ( born 1955 ) 13 July 2016 Incumbent Conservative May I May II Jump up ^ The Prince of Wales served as Prince Regent from 5 February 1811. Jump up ^ Elected to a new constituency in the 1832 -- 33 general election. Jump up ^ Elected to a new constituency in the 1865 general election. Jump up ^ Elected to a new constituency in the 1918 general election. Jump up ^ Elected to a new constituency in the 1950 general election. Jump up ^ Elected to a new constituency in the 2005 general election. See also British politics portal Politics portal Shadow Chancellor of the Exchequer List of Lord High Treasurers of England and Great Britain Notes and references Jump up ^ 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. Jump up ^ https://www.telegraph.co.uk/business/2016/07/13/who-is-philip-hammond-britains-new-chancellor-and-what-are-like/ Jump up ^ 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 Jump up ^ Loyn, Henry ( 1984 ). The Governance of Anglo - Saxon England, 500 - 1087. Stanford, CA : Stanford University Press. ISBN 0 - 8047 - 1217 - 4. Jump up ^ Stafford, Pauline ( 1989 ). Unification and Conquest : A Political and Social History of England in the Tenth and Eleventh Centuries. London : Edward Arnold. ISBN 0 - 7131 - 6532 - 4. Jump up ^ Chrimes Administrative History pp. 62 -- 63 Jump up ^ `` Great Offices of State ''. The Cabinet Papers. The National Archives. Retrieved 21 December 2010. Jump up ^ `` Gordon Brown : Chancellor of the Exchequer ''. Encyclopedia II. Experiencefestival.com. Archived from the original on 2 November 2012. Retrieved 2 May 2010. Jump up ^ Ben Pimlott, Hugh Dalton ( 1985 ) pp 524 - 48. Jump up ^ `` Monetary Policy Monetary Policy Committee ( MPC ) Framework ''. Bank of England. 6 May 1997. Retrieved 2 May 2010. Jump up ^ Owen, James ( 19 December 2012 ). `` Sir Isaac Newton -- did you know ? ''. The Royal Mint. Retrieved 6 June 2017. Jump up ^ `` History of Number 11 Downing Street ''. UK Government. Retrieved 16 October 2014. Jump up ^ `` Local History ''. Burnham Parish Council. Archived from the original on 1 October 2011. Jump up ^ http://www.timesonline.co.uk/tol/news/politics/article2532776.ece Archived 5 June 2011 at the Wayback Machine. Jump up ^ The Guardian, 11 March 2011 Jump up ^ Alistair Darling, Back from the Brink ( 2011 ) Jump up ^ `` The Budget and Parliament ''. Parliament of the United Kingdom. Retrieved 8 November 2015. Jump up ^ Lydall, Ross ( 6 March 2008 ). `` Chancellor names his preferred Budget tipple -- a glass of plain London tap water ''. The Scotsman. Retrieved 2 May 2010. Jump up ^ Murphy, Joe ( 5 March 2008 ). `` Darling chooses tap water for Budget Day to support Standard campaign ''. London Evening Standard. Retrieved 9 February 2012. Jump up ^ `` Photograph ''. Jump up ^ `` Portrait ''. Jump up ^ Vina, Gonzalo ( 10 December 2010 ). `` www.bloomberg.com ''. Bloomberg. ^ Jump up to : `` Past Chancellors of the Exchequer ''. gov.uk. Government of the United Kingdom. Retrieved 7 September 2017. ^ Jump up to : Including honorifics and constituencies for elected MPs. Jump up ^ `` No. 16611 ''. The London Gazette. 9 June 1812. p. 1111. Jump up ^ section 2, Consolidated Fund Act 1816, Act No. 98 of 1816. Retrieved on 18 November 2016. Jump up ^ Haydn, Joseph ; Ockerby, Horace, eds. ( 1890 ). `` X ( Ireland ) ''. The Book of Dignities. London : W.H. Allen & Co. p. 562. OL 13505280M. Jump up ^ `` No. 17893 ''. The London Gazette. 4 February 1823. p. 193. Jump up ^ `` No. 18356 ''. The London Gazette. 27 April 1827. p. 937. Jump up ^ `` No. 18394 ''. The London Gazette. 7 September 1827. p. 1892. Jump up ^ `` No. 28129 ''. The London Gazette. 17 April 1908. p. 2937. Jump up ^ `` No. 42733 ''. The London Gazette. 17 July 1962. p. 5731. Jump up ^ `` No. 43470 ''. The London Gazette. 23 October 1964. p. 9014. Jump up ^ `` No. 44469 ''. The London Gazette. 5 December 1967. p. 13287. Jump up ^ `` No. 58389 ''. The London Gazette. 11 July 2007. p. 9979. Jump up ^ `` No. 59425 ''. The London Gazette. 21 May 2010. p. 9405. Jump up ^ `` Philip Hammond appointed chancellor ''. BBC News. 13 July 2016. Retrieved 7 July 2017. 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 Wikimedia Commons has media related to Chancellors of the Exchequer. 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Question: where does the chancellor of the exchequer live
Answer: No. 11 Downing Street