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,
Chief Secretary to the Treasury the Treasury has been reduced to an "also attending Cabinet" role. The position's responsibilities include negotiating with departments about budget allocations, public sector pay, and procurement policy. Chief Secretary to the Treasury The Chief Secretary to the Treasury is the third most senior ministerial position in HM Treasury, after the First Lord of the Treasury and the Chancellor of the Exchequer. It was created in 1961, to share the burden of representing the Treasury with the Chancellor of the Exchequer. Between 1961 and 2015 the holder of the post of Chief Secretary to the Treasury was automatically a member of