page_title: Alistair Darling
section_title: Chancellor of the Exchequer
hierarchical_section_title: Alistair Darling / In government / Chancellor of the Exchequer
caption_attribution_description: British Chancellor of the Exchequer Alistair Darling (L), French Finance Minister Christine Lagarde (C) and U.S. Treasury Secretary Tim Geithner (R) talk after their G-7 meeting at the Istanbul Congress Center
context_page_description: Alistair Maclean Darling, Baron Darling of Roulanish, PC is a British Labour Party politician who served as Chancellor of the Exchequer in the Labour Government from 2007-2010 and as a Member of Parliament from 1987 until he stepped down in 2015, most recently for Edinburgh South West. He was one of only three people to have served in the Cabinet continuously from Labour's landslide victory at the 1997 general election until their defeat at the 2010 general election; the other two were Gordon Brown and Jack Straw.
  Darling was first appointed as Chief Secretary to the Treasury by Prime Minister Tony Blair in 1997, and was promoted to Secretary of State for Work and Pensions in 1998. After spending four years at that department, he spent a further four years as Secretary of State for Transport, while also becoming Secretary of State for Scotland in 2003. Blair moved Darling for a final time in 2006, making him President of the Board of Trade and Secretary of State for Trade and Industry, before new Prime Minister Gordon Brown promoted Darling to replace himself as Chancellor of the Exchequer in 2007, a position he remained in until 2010.
context_section_description: In June 2007, the new Prime Minister Gordon Brown appointed Darling Chancellor of the Exchequer, a promotion widely anticipated in the media. Journalists observed that three of Darling's four junior ministers at the Treasury (Angela Eagle, Jane Kennedy and Kitty Ussher) were female and dubbed his team, "Darling's Darlings".
  In September 2007, for the first time since 1860, there was a run on a British bank, Northern Rock. Although the Bank of England and the Financial Services Authority have jurisdiction in such cases, ultimate authority for deciding on financial support for a bank in exceptional circumstances rests with the Chancellor. The 2007 subprime mortgage financial crisis had caused a liquidity crisis in the UK banking industry, and Northern Rock was unable to borrow as required by its business model. Darling authorised the Bank of England to lend Northern Rock funds to cover its liabilities and provided an unqualified taxpayers' guarantee of the deposits of savers in Northern Rock to try to stop the run. Northern Rock borrowed up to £20 billion from the Bank of England, and Darling was criticised for becoming sucked into a position where so much public money was tied up in a private company.
  In March 2008, Darling's Budget was criticised in a media campaign spread by a social networking site. Amid anger at the rise in alcohol duties, James Hughes, a landlord in Edinburgh (where Darling's constituency was based) symbolically barred Darling from his pub, and a passing reporter from the Edinburgh Evening News ran the story. A Facebook group was created, leading dozens of pubs across Britain to follow Hughes, barring Darling from their pubs. The story was eventually picked up by most national press and broadcast media in Britain, and David Cameron, Leader of the Opposition at the time, cited the movement at Prime Minister's Questions on 26 March.
caption: Alistair Darling with Christine Lagarde and Timothy Geithner in Istanbul.
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