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,
Lords Commissioners of the Treasury with the decline of defence as an urgent policy area this was abandoned by Sir Anthony Eden when he came to office in 1955. Accordingly, the First Lord of the Treasury is the title most associated with the Prime Ministership. Indeed fully seven Prime Ministers saw fit to occupy the post of First Lord of the Treasury only, and held no other subsidiary office. Those Prime Ministers were Lord Rockingham (1782), Lord Portland (1807-1809), David Lloyd-George (1916-1922), Eden (1955-57), Harold Macmillan (1957-1963), Sir Alec Douglas-Home (1963-1964), and Harold Wilson (1964-1968, at which point he also became Minister for the Civil