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,
George Ponsonby (Junior Lord of the Treasury) George Ponsonby (Junior Lord of the Treasury) George Ponsonby (1773 – 5 June 1863), styled The Honourable from 1806, was an Irish politician, who served as a Junior Lord of the Treasury in the governments under Earl Grey and Lord Melbourne from 1832 to 1834. He was the fourth son of William Brabazon Ponsonby and Louisa daughter of Richard Molesworth, 3rd Viscount Molesworth. Ponsonby represented Lismore in the Irish House of Commons between 1796 and 1798. He was then elected as a Member of Parliament at a by-election for Kilkenny County in 1806 on his father, previously the sitting member,