Chancellor of the Exchequer of its interest rates. The chancellor also has oversight of public spending across Government departments. 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 Lord High Treasurer. As the Second Lord, his 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,
Lords Commissioners of the Treasury not a Lord of the Treasury. Instead he has the similar, but discrete, position of Parliamentary Secretary to the Treasury, which is also a sinecure used to procure membership of the Government, but which is not part of the commission fulfilling the office of Lord High Treasurer. Apart from the Chancellor, who heads HM Treasury on a de facto basis (the Lords of the Treasury doing so collectively, ex officio, as Lord High Treasurer), none of the junior ministers in the department are Lords of the Treasury, notwithstanding that they substantially conduct actual Treasury business. These junior ministerial positions are,