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 title of the President of the Board of Commissioners for Exercising the Office of Lord High Admiral (known as the Board of Admiralty). The office of First Lord of the Admiralty existed from 1628 until it was abolished when the Admiralty, Air Ministry, Ministry of Defence and War Office were all merged to form the new Ministry of Defence in 1964. In 1628, during the reign of , the Duke of Buckingham, Lord High Admiral of England, was assassinated and the office was placed in commission, under the control of a Board of Commissioners. The first such First Lord of