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,
First Lord of the Admiralty the Admiralty was Richard Weston, 1st Earl of Portland, who was appointed in 1628. The First Lord was not always a permanent member of the board until the Admiralty Department was established as an official government department in 1709 with the First Lord as its head; it replaced the earlier Office of the Admiralty and Marine Affairs. During most of the 17th century and the early 18th century, it was not invariable for the Admiralty to be in commission, so there are gaps in the list of First Lords, and a small number of First Lords were for a time