Chancellor of the Exchequer

Post	United Kingdom Chancellor of the Exchequer Second Lord of the Treasury
Insignia
Insigniacaption	Royal Arms of His Majesty's Government
Image
Incumbent	Rachel Reeves
Incumbentsince	5 July 2024
Department	His Majesty's Treasury
Style	The Chancellor (informal) The Right Honourable (within the UK and Commonwealth)
Type	Minister of the Crown
Status	Great Office of State
Member Of	Cabinet Privy Council National Security Council
Reports To	First Lord of the Treasury (Prime Minister of the United Kingdom)
Seat	Westminster
Residence	11 Downing Street
Nominator	First Lord of the Treasury
Appointer	The Monarch
Appointer Qualified	(on the advice of the Prime Minister)
Termlength	At His Majesty's pleasure
Salary	£163,891 per annum (2024) (including £91,346 MP salary)
Formation	c. 1221
First	Eustace of Fauconberg (in the Kingdom of England only)
Deputy	Chief Secretary to the Treasury
Website	https://www.gov.uk/government/ministers/chancellor-of-the-exchequer

The chancellor of the exchequer, often abbreviated to chancellor, is a senior minister of the Crown within the Government of the United Kingdom, and the 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.

Responsible for all economic and financial matters, the role is equivalent to that of a finance minister in other countries. The chancellor is now always Second Lord of the Treasury as one of at least six Lords Commissioners of the Treasury, responsible for executing the office of the Treasurer of the Exchequer the others are the prime minister and Commons government whips. 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, and in recent times has come to be the most powerful office in British politics after the prime minister. 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 to 1130 under King Henry I and show continuity from previous years. The chancellor has oversight of fiscal policy, therefore of taxation and public spending across government departments. It previously controlled monetary policy as well until 1997, when the Bank of England was granted independent control of its interest rates.

Since 1718, all chancellors of the exchequer, except at times the lord chief justice of England and Wales as interim holders, have been members of the House of Commons, with Lord Stanhope being the last chancellor from the House of Lords.

The office holder works alongside the other Treasury ministers and the permanent secretary to the Treasury. The corresponding shadow minister is the shadow chancellor of the Exchequer, and the chancellor is also scrutinised by the Liberal Democrat Treasury spokesperson and the Treasury Select Committee.

The current chancellor is Rachel Reeves.

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 Treasurer of the Exchequer. As second lord, her 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 that sets Departmental Expenditure Limits. The amount of power this gives to an individual chancellor depends on their personal forcefulness, their status within their party and their 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 1832. This has strengthened a pre-existing trend towards the chancellor occupying a clear second position among government ministers, elevated above their 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 the speech given 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. They set 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. They also have 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. 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 1911 and 1949, the office is effectively limited to members of the House of Commons; apart from the occasions 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, 2nd Baron Delamer (created Earl of Warrington shortly after leaving office) from 9 April 1689 to 18 March 1690. The chancellor holds the formerly independent office of Master of the Mint as a subsidiary office.

Perquisites of the office

Official residence

The chancellor has no official London residence as such but since 1828 in their role as Second Lord of the Treasury they live in the second lord's official residence, No. 11 Downing Street. In 1997, the then first and second Lords, Tony Blair and Gordon Brown respectively, swapped apartments, as the chancellor's larger apartment in No. 11 better accommodated Blair's substantial family (besides himself and his wife, he had three children under 18 upon taking office, and a fourth was born in 2000); meanwhile, Brown was then unmarried and had no children.

Dorneywood

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 215acre of parkland, was allocated to Deputy Prime Minister John Prescott. In 2007, it reverted to the then-chancellor, Alistair Darling.

Budget box

The chancellor traditionally carries their budget speech to the House of Commons in a particular red despatch box. The so-called 'Budget Box' is identical to the cases 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 box, containing the budget speech, to the press before leaving 11 Downing Street for the House of Commons.

The original budget box 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 box 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 they wish 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 chancellors after Clarke, Philip Hammond, 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 was regularly worn at coronations, and up until 1997 it was worn annually by the chancellor when attending the Trial of the Pyx. 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

England ({{Circa|1221}} – {{Circa|1558}})

Chancellor of the Exchequer		Term of office		Monarch (Reign)
75px	Eustace of Fauconberg Bishop of London			Henry III 50px (1216–1272)
Geoffrey de Neuband	Edward I 50px (1272–1307)
75px	John Sandale Bishop of Winchester	1307	1308	Edward II 50px (1307–1327)
75px	Adam de Harvington	1327	1330	Edward III 50px (1327–1377)
	Sir Walter Barnham	1377	1399	Richard II 50px (1377–1399)
75px	Henry Somer MP for Middlesex	1410	1437	Henry IV 50px (1399–1413)
Henry V 50px (1413–1422)
				Henry VI 50px (1422–1461)
75px	Thomas Thwaites	1461		Edward IV 50px (1461–1470)
	Henry VI 50px (1470–1471)
75px	Thomas Thwaites Chancellor of the Duchy of Lancaster	1471	1483	Edward IV 50px (1471–1483)
75px	William Catesby Speaker of the House of Commons	1483		Edward V 50px (1483)
75px	William Catesby Speaker of the House of Commons	Richard III 50px (1483–1485)
75px	Thomas Lovell Speaker of the House of Commons	1485	1524	Henry VII 50px (1485–1509)
	Thomas Lovell Speaker of the House of Commons	Henry VIII 50px (1509–1547)	1524
Edward VI 50px (1547–1553)
Mary I 50px (1553–1558)
75px	John Maunsell Secretary of State
	Ralph de Leicester	before 1248
	Edward of Westminster	1248
	Albric de Fiscamp	before 1263
75px	John Chishull Lord Chancellor	1263	1265
75px	Walter Giffard Bishop of Bath and Wells	1265	1266
75px	Godfrey Giffard Lord Chancellor	1266	1268
75px	John Chishull Lord Chancellor	1268	1269
75px	Richard of Middleton Archdeacon of Northumberland	1269	1272
	Roger de la Leye	before 1283
		Philip de Willoughby	1283	1305
75px	John Benstead Secretary of State	1305	1306
	John of Markenfield	1309	1312
75px	John Hotham Bishop of Ely	1312	1316
75px	Hervey de Stanton	1316
75px	Walter Stapledon Lord High Treasurer	1323
75px	Hervey de Stanton Chief Justice of the Common Pleas	1324	1327
75px	Robert Wodehouse	1330	1331
75px	Robert de Stratford Bishop of Chichester	1331	1334
	John Hildesle
	William de Everdon	1341
	William Askeby Archdeacon of Northampton	1363
75px	Robert de Ashton	1375	1377
75px	John Somerset	1441	1447
75px	Thomas Browne MP for Dover	1440?	1450?
75px	Thomas Witham	1454
75px	Thomas Witham	1465	1469
	Richard Fowler	1469	1471
75px	Richard Fowler	1469	John Bourchier 2nd Baron Berners	1524	1533?
75px	Thomas Cromwell 1st Earl of Essex Secretary of State	12 April 1533	10 June 1540
	John Baker MP for Kent	1545	1558
75px

Died in office.

England ({{Circa|1558}} – 1708)

Chancellor of the Exchequer		Term of office		Monarch (Reign)
75px	Richard Sackville MP for Sussex	February 1559	21 April 1566	Elizabeth I 50px (1558–1603)
75px	George Home 1st Earl of Dunbar`gov.uk`	24 May 1603	April 1606	James I 50px (1603–1625)
Charles I 50px (1625–1649)
Vacancy during the Interregnum (1649–1660)
Chancellor of the Exchequer		Term of office		Ministry	Monarch (Reign)
75px	Edward Hyde 1st Baron Hyde`gov.uk`	1660	13 May 1661	Clarendon	Charles II 50px (1660–1685)
	James II 50px (1685–1688)			Clarendon
	William III & Mary II 50px (1689–1694)
William III 50px (1694–1702)
75px		Godolphin–Marlborough (Tory–Whig)	Anne 50px (1702–1714)
75px	Walter Mildmay`gov.uk` MP for Northamptonshire	1566	31 May 1589
75px	John Fortescue`gov.uk`	1589	1603
75px	Julius Caesar`gov.uk` MP for Middlesex	11 April 1606	1614
75px	Fulke Greville`gov.uk` MP for Warwickshire	15 October 1614	1621
75px	Richard Weston`gov.uk` MP for 7 constituencies successively	29 January 1621	15 July 1628
75px		29 January 1621	15 July 1628	75px	Edward Barrett 1st Lord Barrett of Newburgh`gov.uk`	14 August 1628	1629
75px	Francis Cottington 1st Baron Cottington`gov.uk`	18 April 1629	6 January 1642
75px	John Colepeper`gov.uk` MP for Kent	6 January 1642	22 February 1643
75px	Edward Hyde`gov.uk`	February 1643	1646
75px	Anthony Ashley Cooper 1st Baron Ashley`gov.uk`	13 May 1661	22 November 1672
75px	Anthony Ashley Cooper 1st Baron Ashley`gov.uk`	Cabal
75px	John Duncombe`gov.uk` MP for Bury St Edmunds	Cabal	22 November 1672	2 May 1676
75px	John Duncombe`gov.uk` MP for Bury St Edmunds	Danby I
	John Ernle`gov.uk` MP for 4 constituencies successively	Danby I	2 May 1676	9 April 1689
		Privy Council
		Chits
75px			Henry Booth 2nd Baron Delamer`gov.uk`	9 April 1689	18 March 1690	Carmarthen–Halifax
75px			Richard Hampden`gov.uk` MP for Buckinghamshire	18 March 1690	10 May 1694	Carmarthen
75px	Charles Montagu`gov.uk`	10 May 1694	31 May 1699	Whig Junto I
75px	Charles Montagu`gov.uk`	75px	John Smith`gov.uk` MP for Andover	31 May 1699	23 March 1701	Pembroke
	Henry Boyle`gov.uk`	27 March 1701	22 April 1708			Pembroke

Great Britain (1708–1817)

		Term of office		Party	Ministry	Monarch (Reign)
75px	John Smith`gov.uk` MP for Andover	22 April 1708	11 August 1710		Whig		Godolphin–Marlborough (Tory–Whig)	Anne 50px (1702–1714)
George I 50px (1714–1727)
George II 50px (1727–1760)
George III 50px (1760–1820)
75px	Robert Harley`gov.uk` MP for Radnor	11 August 1710	4 June 1711		Tory	rowspan=4	Oxford–Bolingbroke
75px	Robert Benson`gov.uk` MP for York	4 June 1711	21 August 1713		Tory
75px	William Wyndham`gov.uk` MP for Somerset	21 August 1713	13 October 1714	rowspan=2	Tory
75px	William Wyndham`gov.uk` MP for Somerset	75px	Richard Onslow`gov.uk` MP for Surrey	13 October 1714	12 October 1715		Whig	rowspan=2	Townshend
75px	Robert Walpole`gov.uk` MP for King's Lynn	12 October 1715	15 April 1717		Whig
75px	James Stanhope 1st Earl Stanhope`gov.uk`	15 April 1717	20 March 1718		Whig		Stanhope–Sunderland I
75px	John Aislabie`gov.uk` MP for Ripon	20 March 1718	23 January 1721		Whig	rowspan=2	Stanhope–Sunderland II
75px	John Pratt`gov.uk` Lord Chief Justice (interim)	2 February 1721	3 April 1721		Whig
75px	Robert Walpole 1st Earl of Orford`gov.uk` MP for King's Lynn	3 April 1721	12 February 1742	Whig	Walpole–Townshend
		Walpole
	75px	Samuel Sandys`gov.uk` MP for Worcester	12 February 1742	12 December 1743		Whig	Carteret
75px	Henry Pelham`gov.uk` MP for Sussex	12 December 1743	8 March 1754	Whig
75px	Henry Pelham`gov.uk` MP for Sussex		Broad Bottom (I & II)
75px	William Lee`gov.uk` Lord Chief Justice (interim)	8 March 1754	6 April 1754		Whig	Newcastle I
75px	Henry Bilson-Legge`gov.uk` MP for Orford	6 April 1754	25 November 1755		Whig
75px	George Lyttelton`gov.uk` MP for Okehampton	25 November 1755	16 November 1756		Whig
75px	Henry Bilson-Legge`gov.uk` MP for Orford	16 November 1756	13 April 1757		Whig	rowspan=2	Pitt–Devonshire
75px	William Murray 1st Earl of Mansfield`gov.uk` Lord Chief Justice (interim)	13 April 1757	2 July 1757	Whig
75px		1757 Caretaker
75px	Henry Bilson-Legge`gov.uk`	2 July 1757	19 March 1761	Whig	Pitt–Newcastle
75px	Henry Bilson-Legge`gov.uk`	75px	William Barrington 2nd Viscount Barrington`gov.uk` MP for Plymouth	19 March 1761	29 May 1762		Whig
75px	Francis Dashwood`gov.uk` MP for Weymouth and Melcombe Regis	29 May 1762	16 April 1763		Tory		Bute (Tory–Whig)
75px	George Grenville`gov.uk` MP for Buckingham	16 April 1763	16 July 1765		Whig		Grenville (Whig–Tory)
75px	William Dowdeswell`gov.uk` MP for Worcestershire	16 July 1765	2 August 1766		Whig		Rockingham I
75px	Charles Townshend`gov.uk` MP for Harwich	2 August 1766	4 September 1767		Whig	Chatham (Whig–Tory)
75px	Frederick North Lord North`gov.uk` MP for Banbury	11 September 1767	27 March 1782	Tory
			Grafton
		North
75px	Lord John Cavendish`gov.uk` MP for York	27 March 1782	10 July 1782		Whig		Rockingham II
75px	William Pitt the Younger`gov.uk` MP for Appleby	10 July 1782	31 March 1783		Whig		Shelburne (Whig–Tory)
75px	Lord John Cavendish`gov.uk` MP for York	2 April 1783	19 December 1783		Whig		Fox–North
75px	William Pitt the Younger`gov.uk`	19 December 1783	14 March 1801		Tory		Pitt I
75px	Henry Addington`gov.uk` MP for Devizes	14 March 1801	10 May 1804		Tory		Addington
75px	William Pitt the Younger`gov.uk` MP for Cambridge University	10 May 1804	23 January 1806		Tory		Pitt II
75px	Edward Law 1st Baron Ellenborough`gov.uk` Lord Chief Justice (interim)	23 January 1806	5 February 1806		Tory	All the Talents (Whig–Tory)
75px	Lord Henry Petty-Fitzmaurice`gov.uk` MP for Cambridge University	5 February 1806	26 March 1807		Whig
75px	Spencer Perceval`gov.uk` MP for Northampton	26 March 1807	11 May 1812	Tory		Portland II
75px	Spencer Perceval`gov.uk` MP for Northampton	Perceval
75px	Nicholas Vansittart	9 June 1812	12 July 1817		Tory		Liverpool

United Kingdom (1817–present)

Although the Kingdoms of Great Britain and Ireland had been united by the Acts of Union 1800, the Exchequers of the two Kingdoms were not consolidated until 1817 under the Consolidated Fund Act 1816 (56 Geo. 3. c. 98). For the holders of the Irish office before this date, see Chancellor of the Exchequer of Ireland.

		Term of office		Party	Ministry	Monarch (Reign)
75px	Nicholas Vansittart`gov.uk` MP for Harwich	12 July 1817	31 January 1823	Tory	rowspan=3	Liverpool	George III 50px (1760–1820)
75px	Nicholas Vansittart`gov.uk` MP for Harwich	12 July 1817	31 January 1823	George IV 50px (1820–1830)
William IV 50px (1830–1837)
Victoria 50px (1837–1901)
Edward VII 50px (1901–1910)
George V 50px (1910–1936)
Edward VIII 50px (1936)
George VI 50px (1936–1952)
Elizabeth II 50x50px (1952–2022)
Charles III 60px (2022–present)
75px	Frederick John Robinson MP for Ripon	31 January 1823	27 April 1827		Tory
75px	George Canning MP for Seaford	27 April 1827	8 August 1827		Tory		Canning (Canningite–Whig)
75px	Charles Abbott 1st Baron Tenterden Lord Chief Justice (interim)	8 August 1827	5 September 1827		Tory	Goderich
75px	John Charles Herries MP for Harwich	5 September 1827	26 January 1828		Tory
75px	Henry Goulburn`gov.uk` MP for Armagh	26 January 1828	22 November 1830	Tory	Wellington–Peel
75px	Henry Goulburn`gov.uk` MP for Armagh	26 January 1828	22 November 1830	75px	John Spencer Viscount Althorp`gov.uk`	22 November 1830	14 November 1834	Whig		Grey
Melbourne I				75px	John Spencer Viscount Althorp`gov.uk`	22 November 1830	14 November 1834
75px	Thomas Denman 1st Baron Denman Lord Chief Justice (interim)	14 November 1834	15 December 1834		Whig		Wellington Caretaker
75px	Robert Peel`gov.uk` MP for Tamworth	15 December 1834	8 April 1835		Conservative		Peel I
75px	Thomas Spring Rice`gov.uk` MP for Cambridge	18 April 1835	26 August 1839	Whig	Melbourne II
75px	Thomas Spring Rice`gov.uk` MP for Cambridge	18 April 1835	26 August 1839	75px	Francis Baring`gov.uk` MP for Portsmouth	26 August 1839	30 August 1841		Whig
75px	Henry Goulburn`gov.uk` MP for Cambridge University	3 September 1841	27 June 1846		Conservative		Peel II
75px	Charles Wood`gov.uk` MP for Halifax	6 July 1846	21 February 1852		Whig		Russell I
75px	Benjamin Disraeli`gov.uk` MP for Buckinghamshire	27 February 1852	17 December 1852		Conservative		Who? Who?
75px	William Ewart Gladstone`gov.uk` MP for Oxford University	28 December 1852	28 February 1855		Peelite		Aberdeen (Peelite–Whig)
75px	George Cornewall Lewis`gov.uk` MP for Radnor	28 February 1855	21 February 1858		Whig		Palmerston I
75px	Benjamin Disraeli`gov.uk` MP for Buckinghamshire	26 February 1858	11 June 1859		Conservative		Derby–Disraeli II
75px	William Ewart Gladstone`gov.uk`	18 June 1859	26 June 1866	Liberal		Palmerston II
75px	William Ewart Gladstone`gov.uk`	18 June 1859	26 June 1866	Russell II
75px	Benjamin Disraeli`gov.uk` MP for Buckinghamshire	6 July 1866	29 February 1868		Conservative	Derby–Disraeli III
75px	George Ward Hunt`gov.uk` MP for North Northamptonshire	29 February 1868	1 December 1868		Conservative
75px	Robert Lowe`gov.uk` MP for London University	9 December 1868	11 August 1873		Liberal	Gladstone I
75px	William Ewart Gladstone`gov.uk` MP for Greenwich	11 August 1873	17 February 1874		Liberal
75px	Stafford Northcote`gov.uk` MP for North Devonshire	21 February 1874	21 April 1880		Conservative		Disraeli II
75px	William Ewart Gladstone`gov.uk` MP for Midlothian	28 April 1880	16 December 1882		Liberal	Gladstone II
75px	Hugh Childers`gov.uk` MP for Pontefract	16 December 1882	9 June 1885		Liberal
75px	Michael Hicks Beach`gov.uk` MP for Bristol West	24 June 1885	28 January 1886		Conservative		Salisbury I
75px	William Harcourt`gov.uk` MP for Derby	6 February 1886	20 July 1886		Liberal		Gladstone III
75px	Lord Randolph Churchill`gov.uk` MP for Paddington South	3 August 1886	22 December 1886		Conservative	rowspan=2	Salisbury II
75px	George Goschen`gov.uk` MP for St George Hanover Square	14 January 1887	11 August 1892		Liberal Unionist
75px	William Harcourt`gov.uk` MP for Derby	18 August 1892	21 June 1895	Liberal		Gladstone IV
75px	William Harcourt`gov.uk` MP for Derby	18 August 1892	21 June 1895	Rosebery
75px	Michael Hicks Beach`gov.uk` MP for Bristol West	29 June 1895	11 August 1902	Conservative	rowspan=2	Salisbury (III & IV) (Con.–Lib.U.)
75px	Michael Hicks Beach`gov.uk` MP for Bristol West	29 June 1895	11 August 1902	75px	Charles Ritchie`gov.uk` MP for Croydon	11 August 1902	9 October 1903		Conservative	Balfour
75px	Austen Chamberlain`gov.uk` MP for East Worcestershire	9 October 1903	4 December 1905		Liberal Unionist
75px	Herbert Henry Asquith`gov.uk` MP for East Fife	10 December 1905	16 April 1908		Liberal		Campbell-Bannerman
75px	David Lloyd George MP for Caernarvon Boroughs	16 April 1908	25 May 1915	Liberal	rowspan=2	Asquith (I–III)
75px	David Lloyd George MP for Caernarvon Boroughs	16 April 1908	25 May 1915	75px	Reginald McKenna`gov.uk` MP for North Monmouthshire	25 May 1915	10 December 1916		Liberal		Asquith Coalition (Lib.–Con.–et al.)
75px	Bonar Law`gov.uk`	10 December 1916	10 January 1919		Conservative	rowspan=3	Lloyd George (I & II)
75px	Austen Chamberlain`gov.uk` MP for Birmingham West	10 January 1919	1 April 1921		Conservative
75px	Robert Horne`gov.uk` MP for Glasgow Hillhead	1 April 1921	19 October 1922		Conservative
75px	Stanley Baldwin`gov.uk` MP for Bewdley	27 October 1922	27 August 1923	Conservative		Law
75px	Stanley Baldwin`gov.uk` MP for Bewdley	27 October 1922	27 August 1923	Baldwin I
75px	Neville Chamberlain`gov.uk` MP for Birmingham Ladywood	27 August 1923	22 January 1924		Conservative
75px	Philip Snowden`gov.uk` MP for Colne Valley	22 January 1924	3 November 1924		Labour		MacDonald I
75px	Winston Churchill`gov.uk` MP for Epping Chancellorship	6 November 1924	4 June 1929		Conservative		Baldwin II
75px	Philip Snowden`gov.uk` MP for Colne Valley	7 June 1929	5 November 1931		Labour		MacDonald II
75px	Philip Snowden`gov.uk` MP for Colne Valley	7 June 1929	5 November 1931		National Labour		National I (N.Lab.–Con.–et al.)
75px	Neville Chamberlain`gov.uk` MP for Birmingham Edgbaston	5 November 1931	28 May 1937	Conservative		National II
				National III (Con.–N.Lab.–et al.)
				75px	John Simon`gov.uk` MP for Spen Valley	28 May 1937	12 May 1940	Liberal National		National IV
				75px	John Simon`gov.uk` MP for Spen Valley	28 May 1937	12 May 1940	Chamberlain War
75px	Kingsley Wood`gov.uk` MP for Woolwich West	12 May 1940	21 September 1943		Conservative	rowspan=2	Churchill War (All parties)
75px	John Anderson`gov.uk` MP for Combined Scottish Universities	24 September 1943	26 July 1945	Independent (National)
75px		24 September 1943	26 July 1945		Churchill Caretaker (Con.–Lib.N.)
75px	Hugh Dalton`gov.uk` MP for Bishop Auckland	27 July 1945	13 November 1947		Labour	Attlee (I & II)
75px	Stafford Cripps`gov.uk`	13 November 1947	19 October 1950		Labour
75px	Hugh Gaitskell`gov.uk` MP for Leeds South	19 October 1950	26 October 1951		Labour
75px	Richard Austen Butler`gov.uk` MP for Saffron Walden	26 October 1951	20 December 1955	Conservative	Churchill III
				Eden
				75px	Harold Macmillan`gov.uk` MP for Bromley	20 December 1955	13 January 1957		Conservative
75px	Peter Thorneycroft`gov.uk` MP for Monmouth	13 January 1957	6 January 1958		Conservative	Macmillan (I & II)
75px	Derick Heathcoat-Amory`gov.uk` MP for Tiverton	6 January 1958	27 July 1960		Conservative
75px	Selwyn Lloyd`gov.uk` MP for Wirral	27 July 1960	13 July 1962		Conservative
100x100px	Reginald Maudling MP for Barnet	16 July 1962	16 October 1964	Conservative
100x100px	Reginald Maudling MP for Barnet	16 July 1962	16 October 1964		Douglas-Home
75px	James Callaghan MP for Cardiff South East	17 October 1964	29 November 1967		Labour	Wilson (I & II)
75px	Roy Jenkins MP for Birmingham Stechford	29 November 1967	19 June 1970		Labour
75px	Iain Macleod`gov.uk` MP for Enfield West	20 June 1970	20 July 1970		Conservative	Heath
75px	Anthony Barber`gov.uk` MP for Altrincham and Sale	25 July 1970	4 March 1974		Conservative
75px	Denis Healey`gov.uk` MP for Leeds East	5 March 1974	4 May 1979	Labour		Wilson (III & IV)
75px	Denis Healey`gov.uk` MP for Leeds East	5 March 1974	4 May 1979	Callaghan
75px	Geoffrey Howe`gov.uk` MP for East Surrey	4 May 1979	11 June 1983		Conservative		Thatcher I
75px	Nigel Lawson`gov.uk` MP for Blaby	11 June 1983	26 October 1989	Conservative		Thatcher II
75px	Nigel Lawson`gov.uk` MP for Blaby	11 June 1983	26 October 1989	Thatcher III
75px	John Major`gov.uk` MP for Huntingdon	26 October 1989	28 November 1990		Conservative
100x100px	Norman Lamont`gov.uk` MP for Kingston-upon-Thames	28 November 1990	27 May 1993	Conservative		Major I
100x100px	Norman Lamont`gov.uk` MP for Kingston-upon-Thames	28 November 1990	27 May 1993	Major II
75px	Kenneth Clarke`gov.uk` MP for Rushcliffe	27 May 1993	2 May 1997		Conservative
75px	Gordon Brown`gov.uk` Chancellorship	2 May 1997	27 June 2007		Labour		Blair (I, II & III)
75px	Alistair Darling MP for Edinburgh South West	28 June 2007	11 May 2010		Labour		Brown
75px	George Osborne MP for Tatton Chancellorship	11 May 2010	13 July 2016	Conservative		Cameron–Clegg (Con.–L.D.)
75px	George Osborne MP for Tatton Chancellorship	11 May 2010	13 July 2016	Cameron II
108x108px	Philip Hammond MP for Runnymede and Weybridge	13 July 2016	24 July 2019	Conservative		May I
108x108px	Philip Hammond MP for Runnymede and Weybridge	13 July 2016	24 July 2019	May II
100x100px	Sajid Javid MP for Bromsgrove	24 July 2019	13 February 2020	Conservative		Johnson I
100x100px	Sajid Javid MP for Bromsgrove	24 July 2019	13 February 2020	Johnson II
100x100px	Rishi Sunak MP for Richmond (Yorks) Chancellorship	13 February 2020	5 July 2022		Conservative
100x100px	Nadhim Zahawi MP for Stratford-on-Avon	5 July 2022	6 September 2022		Conservative
100x100px	Kwasi Kwarteng MP for Spelthorne	6 September 2022	14 October 2022	Conservative	Truss
100x100px	Kwasi Kwarteng MP for Spelthorne	6 September 2022	14 October 2022	100x100px	Jeremy Hunt MP for South West Surrey Chancellorship	14 October 2022	5 July 2024	Conservative
Sunak				100x100px	Jeremy Hunt MP for South West Surrey Chancellorship	14 October 2022	5 July 2024
100x100px	Rachel Reeves MP for Leeds West and Pudsey Chancellorship	5 July 2024	Incumbent		Labour		Starmer