Chancellor of the Exchequer of the Lord Chancellor (as seen in several of the portraits depicted below). In recent times, it has only regularly been worn at Coronations, but some chancellors (at least until the 1990s) have also worn it when attending the Trial of the Pyx as Master of the Mint. According to George Osborne, the robe (dating from Gladstone's time in office, and worn by the likes of Lloyd George and Churchill) 'went missing' during Gordon Brown's time as chancellor. Although the Kingdoms of Great Britain and Ireland had been united by the Acts of Union 1800 (39 & 40 Geo. III
Chancellor of the Exchequer 1947, inadvertently blurted out key details to a newspaper reporter, and they appeared in print before he made his speech. Dalton was forced to resign. Although the Bank of England is responsible for setting interest rates, the chancellor also plays an important part in the monetary policy structure. He sets the inflation target which the Bank must set interest rates to meet. Under the Bank of England Act 1998 the chancellor has the power of appointment of four out of nine members of the Bank's Monetary Policy Committee – the so-called 'external' members. He also has a high level of