Financial Secretary to the Treasury: Difference between revisions

Financial Secretary to the Treasury
Financial Secretary to the Treasury
	Royal Arms of His Majesty's Government
	Incumbent; Andrew Griffith; since 8 September 2022
	HM Treasury
Appointer	Monarch
Term length	At His Majesty's pleasure
Inaugural holder	Thomas Harley
Formation	11 June 1711
Website	HM Treasury

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Revision as of 21:33, 9 September 2022

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.

The incumbent as of September 2022 is Andrew Griffith.

The previous office holder was Lucy Frazer who left the government after Liz Truss became the Prime Minister.

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; the four of previous five 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]}

Financial Secretaries to the Treasury since 1830

see Secretary to the Treasury for earlier incumbents

1830–1900

Colour key (for political parties):
Conservative Liberal Peelite Tories Whig

Name		Term of office		Political party		Chancellor
	Thomas Spring Rice	26 November 1830	6 June 1834	Whig	Earl Grey	Viscount Althorp
	Francis Baring	6 June 1834	14 November 1834	Whig	Earl Grey
	Francis Baring	6 June 1834	14 November 1834	Whig	Viscount Melbourne
Office not in use		15 November 1834 - 19 December 1834			Duke of Wellington (Caretaker)	Lord Denman LCJ (interim)
	Sir Thomas Fremantle, Bt	20 December 1834	April 1835	Conservative or Tory	Peel	Peel
	Francis Baring	21 April 1835	26 August 1839	Whig	Viscount Melbourne	Spring Rice
	Robert Gordon	6 September 1839	1841	Whig		Baring
	Richard More O'Ferrall	9 June 1841	30 August 1841	Whig		Baring
	Sir George Clerk	8 September 1841	1845	Conservative	Peel	Goulburn
	Edward Cardwell	4 February 1845	29 June 1846	Conservative	Peel	Goulburn
	John Parker	7 July 1846	1849	Whig	Lord John Russell	Wood
	William Goodenough Hayter	22 May 1849	1850	Whig
	George Cornewall Lewis	9 July 1850	1852	Whig
	George Alexander Hamilton	2 March 1852	1852	Conservative	Earl of Derby	Disraeli
	James Wilson	5 January 1853	19 February 1858	Whig	Earl of Aberdeen (Coalition)	Gladstone
	James Wilson	5 January 1853	19 February 1858	Whig	Viscount Palmerston	Lewis
	George Alexander Hamilton	2 March 1858	1859	Conservative	Earl of Derby	Disraeli
	Sir Stafford Northcote, Bt	21 January 1859	1859	Conservative	Earl of Derby	Disraeli
	Samuel Laing	24 June 1859	1860	Liberal	Viscount Palmerston	Gladstone
	Frederick Peel	2 November 1860	1865	Liberal
	Hugh Childers	19 August 1865	26 June 1866	Liberal
	Hugh Childers	19 August 1865	26 June 1866	Liberal	Earl Russell
	George Ward Hunt	14 July 1866	29 February 1868	Conservative	Earl of Derby	Disraeli
	George Sclater-Booth	4 March 1868	1 December 1868	Conservative	Disraeli	Hunt
	Acton Smee Ayrton	9 December 1868	1869	Liberal	Gladstone	Lowe
	James Stansfeld	2 November 1869	1871	Liberal
	William Edward Baxter	17 March 1871	11 August 1873	Liberal
	John Dodson	11 August 1873	1874	Liberal		Gladstone
	William Henry Smith	21 February 1874	1877	Conservative	Disraeli	Northcote
	Frederick Stanley	14 August 1877	1878	Conservative
	Sir Henry Selwin-Ibbetson, Bt	2 April 1878	21 April 1880	Conservative
	Lord Frederick Cavendish	28 April 1880	1882	Liberal	Gladstone	Gladstone
	Leonard Courtney	6 May 1882	12 December 1884	Liberal		Gladstone
	Leonard Courtney	6 May 1882	12 December 1884	Liberal		Childers
	Sir J. T. Hibbert	12 December 1884	9 June 1885	Liberal		Childers
	Sir Henry Holland, Bt	24 June 1885	1885	Conservative	Marquess of Salisbury	Hicks Beach
	Sir Matthew White Ridley, Bt	1885	1886	Conservative
	William Jackson	1886	28 January 1886	Conservative
	Henry Fowler	6 February 1886	20 July 1886	Liberal	Gladstone	Harcourt
	William Jackson	3 August 1886	1891	Conservative	Marquess of Salisbury	Lord Randolph Churchill
	William Jackson	3 August 1886	1891	Conservative		Viscount Goschen
	John Eldon Gorst	9 November 1891	11 August 1892	Conservative		Viscount Goschen
	Sir J. T. Hibbert	18 August 1892	22 June 1895	Liberal	Gladstone	Harcourt
	Sir J. T. Hibbert	18 August 1892	22 June 1895	Liberal	Earl of Rosebery	Harcourt
	Robert William Hanbury	29 June 1895	1900	Conservative	Marquess of Salisbury (Unionist Coalition)	Hicks Beach

1900–2001

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

	Term of office		Political party		Chancellor
Sir Austen Chamberlain	7 November 1900	11 August 1902	Liberal Unionist	Marquess of Salisbury (Unionist Coalition)	Hicks Beach
Sir Austen Chamberlain	7 November 1900	11 August 1902	Liberal Unionist	Balfour (Unionist Coalition)	Hicks Beach
William Fisher	11 August 1902	April 1903	Conservative		Ritchie
Arthur Elliot	10 April 1903	9 October 1903	Conservative		Ritchie
Victor Cavendish	9 October 1903	5 December 1905	Conservative		A. Chamberlain
Reginald McKenna	12 December 1905	23 January 1907	Liberal	Campbell-Bannerman	Asquith
Walter Runciman	29 January 1907	1908	Liberal	Campbell-Bannerman	Asquith
Charles Hobhouse	12 April 1908	1911	Liberal	Asquith (I)	Lloyd George
Thomas McKinnon Wood	23 October 1911	13 February 1912	Liberal
Charles Masterman MP for Bethnal Green South West (1873–1927)	13 February 1912	11 February 1914	Liberal
Edwin Montagu MP for Chesterton (1879–1924)	11 February 1914	3 February 1915	Liberal
Francis Dyke Acland MP for Camborne (1874–1939)	3 February 1915	25 May 1915	Liberal
Edwin Montagu MP for Chesterton (1879–1924)	26 May 1915	9 July 1916	Liberal	Asquith (Coalition)	McKenna
Thomas McKinnon Wood MP for Glasgow St Rollox (1855–1927)	9 July 1916	5 December 1916	Liberal	Asquith (Coalition)	McKenna
Sir Hardman Lever Baronet	15 December 1916	19 May 1919^{[Note 1]}	None Civil servant	Lloyd George (Coalition)	Law (December 1916 – January 1919) A. Chamberlain (January 1919 – April 1921)
Stanley Baldwin MP for Bewdley (1867–1947)	18 June 1917^{[Note 1]}	1 April 1921	Conservative
Hilton Young MP for Norwich (1879–1960)	21 April 1921	19 October 1922	Liberal		Horne
John Hills MP for City of Durham (1867–1938)	6 November 1922	1923	Conservative	Law	Baldwin
Archibald Boyd-Carpenter MP for Bradford North (1873–1937)	12 March 1923	May 1923	Conservative	Law
Sir William Joynson-Hicks MP for Twickenham (1865–1932)	25 May 1923	27 August 1923^{[Note 2]}	Conservative	Baldwin
Walter Guinness MP for Bury St Edmunds (1880–1944)	5 October 1923	1923	Conservative	Baldwin	N. Chamberlain
William Graham MP for Edinburgh Central (1887–1932)	23 January 1924	4 November 1924	Labour	MacDonald	Snowden
Walter Guinness MP for Bury St Edmunds (1880–1944)	11 November 1924	5 November 1925	Conservative	Baldwin	Churchill
Ronald McNeill MP for Canterbury (1861–1934)	5 November 1925	1 November 1927	Conservative
Arthur Samuel MP for Farnham (1872–1942)	1 November 1927	5 June 1929	Conservative
Frederick Pethick-Lawrence MP for Leicester West (1871–1961)	11 June 1929	August 1931	Labour	MacDonald (II)	Snowden
Walter Elliot MP for Glasgow Kelvingrove (1888–1958)	24 August 1931	29 September 1932	Unionist	MacDonald (First National ministry)	Snowden
Walter Elliot MP for Glasgow Kelvingrove (1888–1958)	24 August 1931	29 September 1932	Unionist	MacDonald (Second National ministry)	N. Chamberlain
Leslie Hore-Belisha MP for Plymouth Devonport (1893–1957)	29 September 1932	29 June 1934	Liberal National
Duff Cooper MP for Westminster St George's (1890–1954)	29 June 1934	22 November 1935	Conservative
Duff Cooper MP for Westminster St George's (1890–1954)	29 June 1934	22 November 1935	Conservative	Baldwin (Third National ministry)
William Morrison MP for Cirencester and Tewkesbury (1893–1961)	22 November 1935	29 October 1936	Conservative
John Colville MP for Midlothian and Peebles Northern (1894–1954)	29 October 1936	1938	Unionist
	29 October 1936	1938	Unionist	N. Chamberlain (Fourth National ministry)	Simon
Euan Wallace MP for Hornsey (1892–1941)	16 May 1938	21 April 1939	Conservative
Harry Crookshank MP for Gainsborough (1893–1961)	21 April 1939	7 February 1943	Conservative
				N. Chamberlain (War)
				Churchill (War)	Wood
Ralph Assheton MP for Rushcliffe (1901–1984)	7 February 1943	29 October 1944	Conservative		Wood
Ralph Assheton MP for Rushcliffe (1901–1984)	7 February 1943	29 October 1944	Conservative		Anderson
Osbert Peake MP for Leeds North (1897–1966)	29 October 1944	26 July 1945	Conservative
Osbert Peake MP for Leeds North (1897–1966)	29 October 1944	26 July 1945	Conservative	Churchill (Caretaker)
William Glenvil Hall MP for Colne Valley (1887–1962)	4 August 1945	2 March 1950	Labour	Attlee	Dalton
William Glenvil Hall MP for Colne Valley (1887–1962)	4 August 1945	2 March 1950	Labour		Cripps
Douglas Jay MP for Battersea North (1907–1996)	2 March 1950	26 October 1951	Labour		Cripps
Douglas Jay MP for Battersea North (1907–1996)	2 March 1950	26 October 1951	Labour		Gaitskell
John Boyd-Carpenter MP for Kingston-upon-Thames (1908–1998)	30 October 1951	28 July 1954	Conservative	Churchill	Butler
Henry Brooke MP for Hampstead (1903–1984)	28 July 1954	January 1957	Conservative	Churchill
				Eden
				Eden	Macmillan
Enoch Powell MP for Wolverhampton South West (1912–1998)	14 January 1957	15 January 1958	Conservative	Macmillan	Thorneycroft
Jack Simon MP for Middlesbrough West (1911–2006)	15 January 1958	22 October 1959	Conservative		Heathcoat-Amory
Sir Edward Boyle MP for Birmingham Handsworth (1923–1981)	22 October 1959	16 July 1962	Conservative		Heathcoat-Amory
Sir Edward Boyle MP for Birmingham Handsworth (1923–1981)	22 October 1959	16 July 1962	Conservative		Lloyd
Anthony Barber MP for Doncaster (1920–2005)	16 July 1962	20 October 1963	Conservative		Maudling
Alan Green MP for Preston South (1911–1991)	23 October 1963	16 October 1964	Conservative	Douglas-Home	Maudling
Niall MacDermot MP for Derby North (1916–1996)	21 October 1964	29 August 1967	Labour	Wilson	Callaghan
Harold Lever MP for Manchester Cheetham (1914–1995)	29 August 1967	13 October 1969	Labour		Callaghan
Harold Lever MP for Manchester Cheetham (1914–1995)	29 August 1967	13 October 1969	Labour		Jenkins
Dick Taverne MP for Lincoln (born 1928)	13 October 1969	19 June 1970	Labour		Jenkins
Patrick Jenkin MP for Wanstead and Woodford (1926–2016) )	19 June 1970	7 April 1972	Conservative	Heath	Macleod
Patrick Jenkin MP for Wanstead and Woodford (1926–2016) )	19 June 1970	7 April 1972	Conservative		Barber
Terrence Higgins MP for Worthing (born 1928)	7 April 1972	4 March 1974	Conservative		Barber
John Gilbert MP for Dudley East (1927–2013)	8 March 1974	17 June 1975	Labour	Wilson	Healey
Robert Sheldon MP for Ashton under Lyne (1923–2020)	17 June 1975	4 May 1979	Labour	Wilson
Robert Sheldon MP for Ashton under Lyne (1923–2020)	17 June 1975	4 May 1979	Labour	Callaghan
Nigel Lawson MP for Blaby (born 1932)	4 May 1979	14 September 1981	Conservative	Thatcher	Howe
Nicholas Ridley MP for Cirencester and Tewkesbury (1929–1993)	September 1981	11 June 1983	Conservative		Howe
John Moore MP for Croydon Central (1937–2019)	19 October 1983	21 May 1986	Conservative		Lawson
Norman Lamont MP for Kingston-upon-Thames (born 1942)	21 May 1986	24 July 1989	Conservative
Peter Lilley MP for St Albans (born 1943)	24 July 1989	28 November 1990	Conservative
Peter Lilley MP for St Albans (born 1943)	24 July 1989	28 November 1990	Conservative		Major
Francis Maude MP for North Warwickshire (born 1953)	28 November 1990	11 April 1992	Conservative	Major	Lamont
Stephen Dorrell MP for Loughborough (born 1952)	11 April 1992	11 July 1994	Conservative		Lamont
Stephen Dorrell MP for Loughborough (born 1952)	11 April 1992	11 July 1994	Conservative		Clarke
Sir George Young, Bt MP for Ealing Acton (born 1941)	11 July 1994	5 July 1995	Conservative
Michael Jack MP for Fylde (born 1946)	5 July 1995	2 May 1997	Conservative
Dawn Primarolo MP for Bristol South (born 1954)	2 May 1997	4 January 1999	Labour	Blair	Brown
Barbara Roche MP for Hornsey and Wood Green (born 1954)	4 January 1999	29 July 1999	Labour
Stephen Timms MP for East Ham (born 1955)	29 July 1999	8 June 2001	Labour

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.

2001–present

Colour key (for political parties):
Conservative Labour

	Term of office		Political party		Chancellor
Paul Boateng MP for Brent South (born 1951)	8 June 2001	May 2002	Labour	Blair	Brown
Ruth Kelly MP for Bolton West (born 1968)	May 2002	9 September 2004	Labour
Stephen Timms MP for East Ham (born 1955)	12 September 2004	6 May 2005	Labour
John Healey MP for Wentworth (born 1960)	6 May 2005	28 June 2007	Labour
Jane Kennedy MP for Liverpool Wavertree (born 1958)	28 June 2007	5 October 2008	Labour	Brown	Darling
Stephen Timms MP for East Ham (born 1955)	5 October 2008	11 May 2010	Labour	Brown	Darling
Mark Hoban MP for Fareham (born 1964)	13 May 2010	4 September 2012	Conservative	Cameron (Coalition)	Osborne
Greg Clark MP for Tunbridge Wells (born 1967)	4 September 2012	7 October 2013	Conservative
Sajid Javid MP for Bromsgrove (born 1969)	7 October 2013	9 April 2014	Conservative
Nicky Morgan MP for Loughborough (born 1972)	9 April 2014	15 July 2014	Conservative
David Gauke MP for South West Hertfordshire (born 1971)	15 July 2014	14 July 2016	Conservative
David Gauke MP for South West Hertfordshire (born 1971)	15 July 2014	14 July 2016	Conservative	Cameron (II)
Jane Ellison MP for Battersea (born 1964)	15 July 2016	9 June 2017	Conservative	May (I)	Hammond
Mel Stride MP for Central Devon (born 1961)	12 June 2017	23 May 2019	Conservative	May (II)
Jesse Norman MP for Hereford and South Herefordshire (born 1962)	23 May 2019	16 September 2021	Conservative	May (II)
				Johnson	Javid
					Sunak
Lucy Frazer MP for South East Cambridgeshire (born 1972)	16 September 2021	7 September 2022	Conservative
Lucy Frazer MP for South East Cambridgeshire (born 1972)	16 September 2021	7 September 2022	Conservative		Zahawi
Andrew Griffith MP for Arundel and South Downs (born 1971)	8 September 2022	Incumbent	Conservative	Truss	Kwarteng

References

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

External links

[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

[1]

[2]

@@ Line 1,252: / Line 1,252: @@
 |rowspan=3 |Conservative
 |-
-|rowspan=2 style="background-color: {{party color|Conservative Party (UK)}}" |
+|rowspan=4 style="background-color: {{party color|Conservative Party (UK)}}" |
-|rowspan=3 |[[Boris Johnson|Johnson]]
+|rowspan=4 |[[Boris Johnson|Johnson]]
 |[[Sajid Javid|Javid]]
 |-
-|rowspan=3 | [[Rishi Sunak|Sunak]]
+| style='border-style: solid solid none solid ;' |<br><br>[[Rishi Sunak|Sunak]]
 |-
-|rowspan=3 style="background-color: {{party color|Conservative Party (UK)}}" |
-|rowspan=3 | [[Lucy Frazer]]
-{{small|MP for [[South East Cambridgeshire (UK Parliament constituency)|South East Cambridgeshire]]<br />(born 1972)}}
-|rowspan=3 |[[File:Official portrait of Lucy Frazer MP crop 2.jpg|frameless|81x81px]]
-|rowspan=3 |[[2021 British cabinet reshuffle|16 September 2021]]
-|rowspan=3 |''Incumbent''
-|rowspan=3 |Conservative
 |rowspan=2 style="background-color: {{party color|Conservative Party (UK)}}" |
+|rowspan=2 | [[Lucy Frazer]]
+{{small|MP for [[South East Cambridgeshire (UK Parliament constituency)|South East Cambridgeshire]]<br />(born 1972)}}
+|rowspan=2 |[[File:Official portrait of Lucy Frazer MP crop 2.jpg|frameless|81x81px]]
+|rowspan=2 |[[2021 British cabinet reshuffle|16 September 2021]]
+|rowspan=2 |7 September 2022
+|rowspan=2 |Conservative
+| style='border-style: none solid solid solid ;' |{{zwsp}}
+|-
+|[[Nadhim Zahawi|Zahawi]]
+|-
+|style="background-color: {{party color|Conservative Party (UK)}}" |
+| [[Andrew Griffith]]
+{{small|MP for [[Arundel and South Downs (UK Parliament constituency)|Arundel and South Downs]]<br />(born 1971)}}
+|[[File:Official portrait of Andrew Griffith MP crop 2.jpg|frameless|81x81px]]
+|8 September 2022
+|''Incumbent''
+|Conservative
+|style="background-color: {{party color|Conservative Party (UK)}}" |
+|[[Liz Truss|Truss]]
+|[[Kwasi Kwarteng|Kwarteng]]
 |}

v t e HM Treasury
Headquarters: 1, Horse Guards Road
Ministers	First Lord of the Treasury Chancellor of the Exchequer / Second Lord of the Treasury Chief Secretary to the Treasury Parliamentary Secretary to the Treasury* Paymaster General Financial Secretary to the Treasury Economic Secretary to the Treasury & City Minister Exchequer Secretary to the Treasury Commercial Secretary to the Treasury Lords Commissioners of the Treasury*
Civil Service	Permanent Secretary to the Treasury
Non-ministerial departments	Government Actuary's Department National Savings and Investments
Executive agencies	Debt Management Office Commissioners for the Reduction of the National Debt Government Internal Audit Agency National Infrastructure Commission
Executive non-departmental public bodies	Office for Budget Responsibility
Other bodies	Crown Estate Infrastructure and Projects Authority Reclaim Fund Royal Mint UK Government Investments National Wealth Fund
Topics	Autumn Budget Budget day Spring Statement
Offices in italics are not currently in use * Sinecure offices nominally associated with the Treasury de facto held by Government Whips

v t e Ministers of HM Treasury
Cabinet ministers	Keir Starmer (First Lord of the Treasury and Prime Minister) Rachel Reeves (Second Lord of the Treasury and Chancellor of the Exchequer)
* also attending Cabinet