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| United Kingdom First Lord of the Treasury | |
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| Residence | 10 Downing Street |
| Seat | Westminster |
| Appointer | The King appointsex officio theprime minister |
| Term length | At His Majesty's pleasure |
| Formation |
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| First holder |
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| Deputy | Second Lord of the Treasury |
| Website | Gov.uk |
TheFirst Lord of the Treasury is the head of theLords Commissioners of the Treasury exercising the ancient office ofLord High Treasurer in the United Kingdom. Traditional convention holds that the office of First Lord is held by thePrime Minister.10 Downing Street is technically the official home of the First Lord, although it is now entirely associated with the Prime Minister's office. The office is not the United Kingdom'sfinance minister; this role is instead held by theChancellor of the Exchequer, who is theSecond Lord of theTreasury.
As of the beginning of the 17th century, the running of the Treasury was frequently entrusted to a commission, rather than to a single individual. Since 1714, it has permanently been in commission. The commissioners have always since that date been referred to asLords Commissioners of the Treasury, and adoptedordinal numbers to describe their seniority. Eventually in the middle of the same century, the first lord of the Treasury came to be seen as the natural head of the overall ministry running the country, and, as of the time ofRobert Walpole (Whig), began to be known, unofficially, as theprime minister.
The term prime minister was initially, but decreasingly, used as a term of derogation; it was first used officially in a royal warrant only in 1905.[which?]William Pitt the Younger said the prime minister "ought to be the person at the head of the finances"—though Pitt also served aschancellor of the exchequer for the entirety of his time as prime minister, so his linkage of the finance portfolio to the premiership was wider than merely proposing the occupation of the first lordship by the prime minister.[1]
Prior to 1841 the first lord of the Treasury also held the office of chancellor of the exchequer unless he was a peer and thus barred from that office; in this case, thesecond lord of the Treasury usually served as chancellor. Since 1841, the chancellor has always been second lord of the Treasury when he was not also prime minister. By convention, the other Lords Commissioners of the Treasury are also GovernmentWhips in theHouse of Commons.
10 Downing Street is the official residence of the first lord of the Treasury, not the office of prime minister.[2]Chequers, acountry house inBuckinghamshire, is the official country residence of the prime minister, used as a weekend and holiday home, although the residence has also been used by other senior members of government.[citation needed]
Much of this list overlaps with thelist of prime ministers of the United Kingdom, but there are some notable differences, principally concerningLord Salisbury, who was prime minister but not first lord in 1885–1886, 1887–1892 and 1895–1902.
Those first lords who were simultaneously prime minister are indicated inbold.
Those who were considered prime minister only duringpart of their term are indicated inbold italic.
Thereafter the posts of first lord and prime minister have continually been held by the same person(seeList of prime ministers of the United Kingdom § 20th century).
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| Prime Minister's Office | ||
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