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 First Lord of the Admiralty The First Lord of the Admiralty, or formally the Office of the First Lord of the Admiralty, was the political head of the Royal Navy who was the government's senior adviser on all naval affairs and responsible for the direction and control of Admiralty Department as well as general administration of the Naval Service of the United Kingdom, that encompassed the Royal Navy, the Royal Marines and other services. It was one of the earliest known permanent government posts. Apart from being the political head of the Royal Navy the post holder simultaneously held the