First Lord of the Treasury that office; in this case, the Second Lord of the Treasury usually served as Chancellor. As of 1841, the Chancellor of the Exchequer has always been Second Lord of the Treasury when he was not also Prime Minister. By convention, the other Lords Commissioners of the Treasury are also Government Whips in the House of Commons. 10 Downing Street is the official residence of the First Lord of the Treasury, and not of the Prime Minister. Chequers, a country house in Buckinghamshire, is the official country residence of the Prime Minister, used as a weekend and holiday home, although the
First Lord of the Treasury a royal warrant only in 1905. William Pitt the Younger once opined that the Prime Minister ""ought to be the person at the head of the finances"" (though Pitt also served as Chancellor of the Exchequer for the entirety of his time as Prime Minister, so his linkage of the finance portfolio to the premiership was wider than merely proposing the occupation of the First Lordship of the Treasury by the Prime Minister). Prior to 1841 the First Lord of the Treasury also held the office of Chancellor of the Exchequer unless he was a peer and thus barred from