Chancellor of the Exchequer Chancellor of the Exchequer The Chancellor and Under-Treasurer of Her Majesty's Exchequer, commonly known as the Chancellor of the Exchequer, or simply the Chancellor, is a senior official within the Government of the United Kingdom and head of Her Majesty's Treasury. The office is a British Cabinet-level position. The chancellor is responsible for all economic and financial matters, equivalent to the role of finance minister in other nations. The position is considered one of the four Great Offices of State, and in recent times has come to be the most powerful office in British politics after the prime minister. The
State Procession at the State Opening of Parliament the monarch's residence where he holds a Member of Parliament 'hostage' pending the monarch's safe return. Until 1998 two Gentleman Ushers were in the procession, in addition to the Gentleman Usher of the Black Rod and the Gentleman Usher to the Sword of State (who conveys the sword to and from the Palace of Westminster). Gentleman Ushers have been in attendance at State Openings since at least the 15th century. Until 1998 the Queen was attended by three Ladies in Waiting: a Woman of the Bedchamber, a Lady of the Bedchamber and the Mistress of the Robes; subsequently only two