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 1800 and 1912 included": From 1 April 1964 Elizabeth II assumed the title of Lord High Admiral. Ministerial responsibility for the Royal Navy was transferred to the newly created Secretary of State for Defence. The "Radical" First Lord, and a major character, in Gilbert and Sullivan's comic opera "H.M.S. Pinafore" (1878), is Sir Joseph Henry Porter, KCB. W. S. Gilbert wrote to Arthur Sullivan he did not intend to portray the real-life then First Lord, the bookseller and newsagent W. H. Smith, a Conservative, although some of the public, including Prime Minister Disraeli (who later referred to Smith as "Pinafore