HM Treasury
HM Treasury (His/Her Majesty's Treasury) is the United Kingdom government department responsible for and putting into effect the UK Government's financial and economic policy. The Treasury's stated aim is to raise the rate of sustainable growth, and achieve rising prosperity, through creating economic and employment opportunities for all.
The English Treasury seems to have come into existence around 1126, in the reign of Henry I. The treasury emerged out of the royal household, and served as the location where the king kept his treasures. The head of the treasury was called the Lord Treasurer. Starting in Tudor times, the Lord Treasurer became one of the chief officers of state, and competed with the Lord Chancellor for the principal place.
In 1667 Charles II of England was responsible for appointing George Downing, (the builder of Downing Street,) to radically reform the Treasury and the collection of taxes.
Beginning in the 17th century, the Treasury was frequently entrusted to a commission, rather than to a single individual, and after 1714, it was always in commission. The commissioners were referred to as Lords of the Treasury, and given a number based on seniority. Eventually, the First Lord of the Treasury came to be seen as the natural head of any government, and from Robert Walpole on, began to be known, unofficially, as the prime minister. Before 1827, the First Lord of the Treasury, when a commoner, also held the office of Chancellor of the Exchequer, while if the First Lord was a peer, the Second Lord would usually serve as Chancellor. Since 1827, the Chancellor of the Exchequer has always been Second Lord of the Treasury.
Ministers of HM Treasury as of 21 August 2003.
Agencies of HM Treasury
See also:
Referenced By
Andrew Guy Tyrie | Andrew Tyri | Andrew Tyrie | Chancellor of the Exchequer | Charles Barry | Charles II of England | Chief Secretary to the Treasury | Departments of the British Government | Departments of the United Kingdom Government | East London Line | First Lord of the Treasury | Gillian Patricia Shephard | Gillian Shephard | Gillian Shepherd | Government of the United Kingdom | HSBC | HSBC Holdings | Hang Seng Bank | Hardinge Giffard, 1st Earl of Halsbury | Hong Kong and Shanghai Bank | Horse Guards | Incumbents | John Healey | John Jeffreys Pratt, 1st Marquess Camden | John Jeffreys Pratt, 2nd Earl Camden | List of Commissioners of the Treasury | List of Incumbents | Lists of Incumbents | Lists of incumbants | Lists of people by office held | Lord High Treasurer | Nottingham High School | Richard Wellesley, 1st Marquess Wellesley | Robin Butler | Second Lord of the Treasury | The Hongkong and Shanghai Banking Corporation | Treasury | United Kingdom government department
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