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
Prime Minister of the Philippines dominated by Marcos' ruling party, the Kilusang Bagong Lipunan (New Society Movement). By June 12, the IBP was inaugurated which also confirmed Marcos' position as the Prime Minister of the Philippines. Upon his inauguration for a third presidential term on June 30, 1981, Marcos formally relinquished his powers as Prime Minister. He appointed then-Finance Minister Cesar Virata to succeed him to the post during the opening of the fourth regular session of the IBP on July 27, 1981. Virata, a grand-nephew of former President Emilio Aguinaldo, previously represented the country to World Bank's Council of Governors. Until the 1986 People