Financial Secretary to the Treasury

Last updated
United Kingdom
Financial Secretary to the Treasury
Royal Coat of Arms of the United Kingdom (HM Government) (2022).svg
Official portrait of Nigel Huddleston MP.jpg
Incumbent
Nigel Huddleston
since 13 November 2023
His Majesty's Treasury
Reports to First Lord of the Treasury
Chancellor of the Exchequer & Second Lord of the Treasury
Nominator Prime Minister
Appointer The King
(on the advice of the Prime Minister)
Term length At His Majesty's pleasure
Inaugural holder Thomas Harley
Formation11 June 1711
Website Official website

The Financial Secretary to the Treasury is a mid-level ministerial post in His Majesty's Treasury. It is nominally the fifth most significant ministerial role within the Treasury after the first lord of the Treasury, the chancellor of the Exchequer, the chief secretary to the Treasury, and the paymaster general. However, the role of First Lord of the Treasury is always held by the prime minister who is not a Treasury minister, and the position of Paymaster General is a sinecure often held by the Minister for the Cabinet Office to allow the holder of that office to draw a government salary. In practice it is, therefore, the third most senior Treasury minister and has attended Cabinet in the past.

Contents

The incumbent as of November 2023 is Nigel Huddleston. The position is shadowed by the shadow financial secretary to the treasury.

History

The role of Financial Secretary to the Treasury was created in 1711 and was known as the Junior Secretary to the Treasury to help deal with the increasing workload of the Senior Secretary to the Treasury. The first Junior Secretary to the Treasury is recorded as Thomas Harley who was appointed on 11 June 1711. The position has continued without any major interruption to the present day. Initially when the position of Senior Secretary to the Treasury became vacant not as the result of an election of change of government the Junior Secretary was usually automatically promoted to the senior role. Over time however, the roles of the Senior and Junior Secretaries began to diverge with the Senior Secretary post being used as a sinecure post for the Chief Whip, with no formal responsibilities to the Treasury. The Junior Secretary however remained a substantive position working in the Treasury. As such the Senior Secretary became known as the 'Parliamentary Secretary to the Treasury' while the Junior Secretary became known as the 'Financial Secretary to the Treasury' and the 'automatic' promotion from Junior to Senior ceased. While the exact date this change occurred is disputed it is agreed that by 1830 the distinction was complete. [1]

In 1923 Sir William Joynson-Hicks became the–to date–only Financial Secretary to serve in the Cabinet due to the Prime Minister, Stanley Baldwin, also concurrently serving as Chancellor of the Exchequer.

In May 2010 as part of the ministerial reorganisation by the First Cameron ministry, the Financial Secretary was given the additional semi-official title of City Minister. This position was retained until April 2014 when following the promotion of Sajid Javid to Secretary of State for Culture, Media and Sport the portfolio of City Minister was moved from the Financial Secretary to the Treasury to the Economic Secretary to the Treasury. [2]

Appointment to the position of Financial Secretary to the Treasury is often considered an important stepping stone in a politician's career; six of the ten most recent holders of the office have gone on to hold Cabinet-level positions.

Notable former Financial Secretaries to the Treasury include Lord Frederick Cavendish, Austen Chamberlain, Stanley Baldwin, Enoch Powell, Nigel Lawson, and Norman Lamont.

Current role

The current responsibilities of the Financial Secretary to the Treasury include Departmental responsibility for the Office for National Statistics, and the Royal Mint.[ citation needed ] The Financial Secretary to the Treasury had Departmental responsibility for HM Customs & Excise until the merger with the Inland Revenue to form HM Revenue & Customs.[ citation needed ]

List of financial secretaries to the Treasury since 1830

see Secretary to the Treasury for earlier incumbents

Colour key (for political parties):
   Conservative    Liberal    Peelite    Tories    Whig    Labour    Liberal National    Liberal Unionist    National Labour   None   Unionist

Financial SecretaryTerm of officePolitical party Prime Minister Chancellor
1stBaronMonteagle.jpg Thomas Spring Rice 26 November 18306 June 1834 Whig Earl Grey Viscount Althorp
Francis Baring, 1st Baron Northbrook by Sir George Hayter.jpg Francis Baring 6 June 183414 November 1834Whig
Viscount Melbourne
Office not in use15 November 1834 – 19 December 1834 Duke of Wellington
(Caretaker)
Lord Denman
LCJ (interim)
Blank.png Thomas Fremantle 20 December 1834April 1835 Conservative
or Tory
Peel Peel
Francis Baring, 1st Baron Northbrook by Sir George Hayter.jpg Francis Baring 21 April 183526 August 1839 Whig Viscount Melbourne Spring Rice
Blank.png Robert Gordon 6 September 18391841Whig Baring
Blank.png Richard More O'Ferrall 9 June 184130 August 1841Whig
Blank.png George Clerk 8 September 18411845 Conservative Peel Goulburn
1stViscountCardwell.jpg Edward Cardwell 4 February 184529 June 1846Conservative
Blank.png John Parker 7 July 18461849 Whig Lord John Russell Wood
Blank.png William Goodenough Hayter 22 May 18491850Whig
Sir George Cornewall Lewis, 2nd Bt.jpg George Cornewall Lewis 9 July 18501852Whig
Gahamilton.jpg George Alexander Hamilton 2 March 18521852 Conservative Earl of Derby Disraeli
James Wilson by Sir John Watson-Gordon.jpg James Wilson 5 January 185319 February 1858 Whig Earl of Aberdeen
(Coalition)
Gladstone
Viscount Palmerston Lewis
Gahamilton.jpg George Alexander Hamilton 2 March 18581859 Conservative Earl of Derby Disraeli
Stafford Northcote, 1st Earl of Iddesleigh.jpg Stafford Northcote 21 January 18591859Conservative
Blank.png Samuel Laing 24 June 18591860 Liberal Viscount Palmerston Gladstone
Blank.png Frederick Peel 2 November 18601865Liberal
Hugh Childers, Lock & Whitfield woodburytype, 1876-83 crop.jpg Hugh Childers 19 August 186526 June 1866Liberal
Earl Russell
George Ward Hunt (30 July 1825 - 29 July 1877) .jpg George Ward Hunt 14 July 186629 February 1868 Conservative Earl of Derby Disraeli
George Sclater-Booth, Vanity Fair, 1874-08-08.jpg George Sclater-Booth 4 March 18681 December 1868Conservative Disraeli Hunt
Acton Smee Ayrton, Vanity Fair, 1869-10-23.jpg Acton Smee Ayrton 9 December 18681869 Liberal Gladstone Lowe
James Stansfeld.JPG James Stansfeld 2 November 18691871Liberal
William Edward Baxter00.jpg William Edward Baxter 17 March 187111 August 1873Liberal
John George Dodson, 1st Baron Monk Bretton.jpg John Dodson 11 August 18731874Liberal Gladstone
William Henry Smith (1825-1891).jpg William Henry Smith 21 February 18741877 Conservative Disraeli Northcote
Frederick Arthur Stanley.jpg Frederick Stanley 14 August 18771878Conservative
Blank.png Henry Selwin-Ibbetson 2 April 187821 April 1880Conservative
Cavendish, Lord Frederick Charles (1836-1882), by John D. Miller, pubd 1883 (after Sir William Blake Richmond, exh. RA 1874).jpg Lord Frederick Cavendish 28 April 18801882 Liberal Gladstone Gladstone
1stLordCourteney.jpg Leonard Courtney 6 May 188212 December 1884Liberal
Childers
John Tomlinson Hibbert.jpg J. T. Hibbert 12 December 18849 June 1885Liberal
Knutsford1.JPG Henry Holland 24 June 18851885 Conservative Marquess of Salisbury Hicks Beach
Matthew White Ridley sketch.jpg Matthew White Ridley 18851886Conservative
William Lawies Jackson.JPG William Jackson 188628 January 1886Conservative
Portrait of Henry Fowler, 1st Viscount Wolverhampton.jpg Henry Fowler 6 February 188620 July 1886 Liberal Gladstone Harcourt
William Lawies Jackson.JPG William Jackson 3 August 18861891 Conservative Marquess of Salisbury Lord Randolph Churchill
Viscount Goschen
John Eldon Gorst.jpg John Eldon Gorst 9 November 189111 August 1892Conservative
John Tomlinson Hibbert.jpg J. T. Hibbert 18 August 189222 June 1895 Liberal Gladstone Harcourt
Earl of Rosebery
Robert Hanbury.JPG Robert William Hanbury 29 June 18951900 Conservative Marquess of Salisbury
(Unionist Coalition)
Hicks Beach
Austen Chamberlain nobel.jpg Austen Chamberlain 7 November 190011 August 1902 Liberal Unionist Marquess of Salisbury
(Unionist Coalition)
Hicks Beach
Balfour
(Unionist Coalition)
William Hayes Fisher, 1st Baron Downham.jpg William Fisher 11 August 1902April 1903 Conservative Ritchie
Arthur Elliott.png Arthur Elliot 10 April 19039 October 1903Conservative
GG Duke of Devonshire.jpg Victor Cavendish 9 October 19035 December 1905Conservative A. Chamberlain
Reginald McKenna photo.jpg Reginald McKenna 12 December 190523 January 1907 Liberal Campbell-Bannerman Asquith
1905 Walter Runciman.jpg Walter Runciman 29 January 19071908Liberal
Charles Hobhouse 2.jpg Charles Hobhouse 12 April 19081911Liberal Asquith
(I)
Lloyd George
Thomas Mackinnon Wood.jpg Thomas McKinnon Wood 23 October 191113 February 1912Liberal
1906 Charles Masterman.jpg Charles Masterman
MP for Bethnal Green South West
13 February 191211 February 1914Liberal
Edwin Samuel Montagu.jpg Edwin Montagu
MP for Chesterton
11 February 19143 February 1915Liberal
Francis Dyke Acland.jpg Francis Dyke Acland
MP for Camborne
3 February 191525 May 1915Liberal
Edwin Samuel Montagu.jpg Edwin Montagu
MP for Chesterton
26 May 19159 July 1916Liberal Asquith
(Coalition)
McKenna
Thomas Mackinnon Wood.jpg Thomas McKinnon Wood
MP for Glasgow St Rollox
9 July 19165 December 1916Liberal
Hardman Lever 1917.jpg Hardman Lever
Baronet
15 December 191619 May 1919
[Note 1]
None
Civil servant
Lloyd George
(Coalition)
Law
(December 1916
– January 1919)

A. Chamberlain
(January 1919
– April 1921)
Stanley Baldwin ggbain.35233.jpg Stanley Baldwin
MP for Bewdley
18 June 1917
[Note 1]
1 April 1921 Conservative
Lord Kennet.jpg Hilton Young
MP for Norwich
21 April 192119 October 1922 Liberal Horne
John Waller Hills.jpg John Hills
MP for City of Durham
6 November 19221923 Conservative Law Baldwin
Archibald Boy-Carpenter.jpg Archibald Boyd-Carpenter
MP for Bradford North
12 March 1923May 1923Conservative
Viscount Brentford.jpg William Joynson-Hicks
MP for Twickenham
25 May 192327 August 1923
[Note 2]
Conservative Baldwin
Walter Guinness, 1st Baron Moyne.png Walter Guinness
MP for Bury St Edmunds
5 October 19231923Conservative N. Chamberlain
Willie Graham.jpg William Graham
MP for Edinburgh Central
23 January 19244 November 1924 Labour MacDonald Snowden
Walter Guinness, 1st Baron Moyne.png Walter Guinness
MP for Bury St Edmunds
11 November 19245 November 1925 Conservative Baldwin Churchill
Ronald McNeill, 1st Baron Cushendun.jpg Ronald McNeill
MP for Canterbury
5 November 19251 November 1927Conservative
Blank.png Arthur Samuel
MP for Farnham
1 November 19275 June 1929Conservative
British Political Personalities 1936-1945 HU59768.jpg Frederick Pethick-Lawrence
MP for Leicester West
11 June 1929August 1931 Labour MacDonald
(II)
Snowden
Walter Elliott MP.jpg Walter Elliot
MP for Glasgow Kelvingrove
24 August 193129 September 1932 Unionist MacDonald
(First National ministry)
MacDonald
(Second National ministry)
N. Chamberlain
Leslie Hore.jpg Leslie Hore-Belisha
MP for Plymouth Devonport
29 September 193229 June 1934 Liberal National
Duff Cooper MP (cropped).jpg Duff Cooper
MP for Westminster St George's
29 June 193422 November 1935 Conservative
Baldwin
(Third National ministry)
Lord Dunrossil-02.jpg William Morrison
MP for Cirencester and Tewkesbury
22 November 193529 October 1936Conservative
Blank.png John Colville
MP for Midlothian and Peebles Northern
29 October 19361938 Unionist
N. Chamberlain
(Fourth National ministry)
Simon
Euan Wallace.jpg Euan Wallace
MP for Hornsey
16 May 193821 April 1939 Conservative
Harrycrookshank.jpg Harry Crookshank
MP for Gainsborough
21 April 19397 February 1943Conservative
N. Chamberlain
(War)
Churchill
(War)
Wood
Blank.png Ralph Assheton
MP for Rushcliffe
7 February 194329 October 1944Conservative
Anderson
Blank.png Osbert Peake
MP for Leeds North
29 October 194426 July 1945Conservative
Churchill
(Caretaker)
Blank.png William Glenvil Hall
MP for Colne Valley
4 August 19452 March 1950 Labour Attlee Dalton
Cripps
Blank.png Douglas Jay
MP for Battersea North
2 March 195026 October 1951Labour
Gaitskell
Blank.png John Boyd-Carpenter
MP for Kingston-upon-Thames
30 October 195128 July 1954 Conservative Churchill Butler
Blank.png Henry Brooke
MP for Hampstead
28 July 1954January 1957Conservative
Eden
Macmillan
Encoch Powell 7 Allan Warren.jpg Enoch Powell
MP for Wolverhampton South West
14 January 195715 January 1958Conservative Macmillan Thorneycroft
Blank.png Jack Simon
MP for Middlesbrough West
15 January 195822 October 1959Conservative Heathcoat-Amory
Blank.png Edward Boyle
MP for Birmingham Handsworth
22 October 195916 July 1962Conservative
Lloyd
Blank.png Anthony Barber
MP for Doncaster
16 July 196220 October 1963Conservative Maudling
Blank.png Alan Green
MP for Preston South
23 October 196316 October 1964Conservative Douglas-Home
1989 International Commission of Jurists uitreiking 4.jpg Niall MacDermot
MP for Derby North
21 October 196429 August 1967 Labour Wilson Callaghan
Blank.png Harold Lever
MP for Manchester Cheetham
29 August 196713 October 1969Labour
Jenkins
Official portrait of Lord Taverne crop 2.jpg Dick Taverne
MP for Lincoln
13 October 196919 June 1970Labour
Blank.png Patrick Jenkin
MP for Wanstead and Woodford
19 June 19707 April 1972 Conservative Heath Macleod
Barber
Official portrait of Lord Higgins crop 2.jpg Terrence Higgins
MP for Worthing
7 April 19724 March 1974Conservative
Blank.png John Gilbert
MP for Dudley East
8 March 197417 June 1975 Labour Wilson Healey
Blank.png Robert Sheldon
MP for Ashton under Lyne
17 June 19754 May 1979Labour
Callaghan
Official portrait of Lord Lawson of Blaby crop 2.jpg Nigel Lawson
MP for Blaby
4 May 197914 September 1981 Conservative Thatcher Howe
Blank.png Nicholas Ridley
MP for Cirencester and Tewkesbury
September 198111 June 1983Conservative
Mr John Moore M.P. addressing the Annual LSE Society Dinner, 5th June, 1985.jpg John Moore
MP for Croydon Central
19 October 198321 May 1986Conservative Lawson
Official portrait of Lord Lamont of Lerwick 2020 crop 2.jpg Norman Lamont
MP for Kingston-upon-Thames
21 May 198624 July 1989Conservative
Official portrait of Lord Lilley crop 2.jpg Peter Lilley
MP for St Albans
24 July 198928 November 1990Conservative
Major
Francis Maude, Minister for the Cabinet Office.jpg Francis Maude
MP for North Warwickshire
28 November 199011 April 1992Conservative Major Lamont
Stephen dorrell mp -nhs confederation annual conferencepercent2c manchester-11july2011 - crop.jpg Stephen Dorrell
MP for Loughborough
11 April 199211 July 1994Conservative
Clarke
Official portrait of Lord Young of Cookham, 2020.jpg George Young
MP for Ealing Acton
11 July 19945 July 1995Conservative
Michael Jack CBE.png Michael Jack
MP for Fylde
5 July 19952 May 1997Conservative
Official portrait of Baroness Primarolo crop 2.jpg Dawn Primarolo
MP for Bristol South
2 May 19974 January 1999 Labour Blair Brown
Blank.png Barbara Roche
MP for Hornsey and Wood Green
4 January 199929 July 1999Labour
Official portrait of Rt Hon Stephen Timms MP crop 2.jpg Stephen Timms
MP for East Ham
29 July 19998 June 2001Labour
Official portrait of Lord Boateng, 2020.jpg Paul Boateng
MP for Brent South
8 June 2001May 2002 Labour Blair Brown
RuthKellyMP.jpg Ruth Kelly
MP for Bolton West
May 20029 September 2004Labour
Official portrait of Rt Hon Stephen Timms MP crop 2.jpg Stephen Timms
MP for East Ham
12 September 20046 May 2005Labour
Official portrait of Rt Hon John Healey MP crop 2.jpg John Healey
MP for Wentworth
6 May 200528 June 2007Labour
Jane Kennedy.jpg Jane Kennedy
MP for Liverpool Wavertree
28 June 20075 October 2008Labour Brown Darling
Official portrait of Rt Hon Stephen Timms MP crop 2.jpg Stephen Timms
MP for East Ham
5 October 200811 May 2010Labour
Mark Hoban MP speaking at 'Improving Employment Outcomes' (cropped).jpg Mark Hoban
MP for Fareham
13 May 20104 September 2012 Conservative Cameron
(Coalition)
Osborne
Official portrait of Rt Hon Greg Clark MP crop 2.jpg Greg Clark
MP for Tunbridge Wells
4 September 20127 October 2013Conservative
Official portrait of Rt Hon Sajid Javid MP crop 2.jpg Sajid Javid
MP for Bromsgrove
7 October 20139 April 2014Conservative
Official portrait of Nicky Morgan crop 2.jpg Nicky Morgan
MP for Loughborough
9 April 2014 15 July 2014 Conservative
Official portrait of Mr David Gauke crop 2.jpg David Gauke
MP for South West Hertfordshire
15 July 2014 14 July 2016Conservative
Cameron
(II)
Jane Ellison MP.jpg Jane Ellison
MP for Battersea
15 July 20169 June 2017Conservative May
(I)
Hammond
Official portrait of Rt Hon Mel Stride MP crop 2.jpg Mel Stride
MP for Central Devon
12 June 2017 23 May 2019 Conservative May
(II)
Official portrait of Rt Hon Jesse Norman MP crop 2.jpg Jesse Norman
MP for Hereford and South Herefordshire
23 May 2019 16 September 2021 Conservative
Johnson Javid
Sunak
Official portrait of Lucy Frazer MP crop 2.jpg Lucy Frazer
MP for South East Cambridgeshire
16 September 2021 7 September 2022Conservative
Zahawi
Official portrait of Andrew Griffith MP crop 2.jpg Andrew Griffith
MP for Arundel and South Downs
8 September 202227 October 2022Conservative Truss Kwarteng
Hunt
Official portrait of Victoria Atkins MP crop 2.jpg Victoria Atkins
MP for Louth and Horncastle
27 October 2022 13 November 2023 Conservative Sunak
Official portrait of Nigel Huddleston MP crop 2.jpg Nigel Huddleston
MP for Mid Worcestershire
13 November 2023 IncumbentConservative

Note 1. ^ Between June 1917 and May 1919 Lever and Baldwin jointly held the position of Financial Secretary.
Note 2. ^ As Baldwin was both Prime Minister and Chancellor of the Exchequer Joynson-Hicks was a member of the Cabinet.

See also

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References

  1. "Secretaries 1660-1870". British History Online. Retrieved 9 October 2016.
  2. Andrea Leadsom MP appointed new City Minister for HMT, Tech UK, 10 April 2014, retrieved 4 August 2016