Financial Secretary to the Treasury
Royal Coat of Arms of the United Kingdom (HM Government).svg
Official portrait of Victoria Atkins MP.jpg
Incumbent
Victoria Atkins

since 27 October 2022
His Majesty's Treasury
NominatorPrime Minister
AppointerThe King
(on the advice of the Prime Minister)
Term lengthAt His Majesty's pleasure
Inaugural holderThomas Harley
Formation11 June 1711
WebsiteHM Treasury

The financial secretary to the Treasury is a mid-level ministerial post in His Majesty's Treasury. It is nominally the fifth most significant ministerial role within the Treasury after the first lord of the Treasury, the chancellor of the Exchequer, the chief secretary to the Treasury, and the paymaster general. However, the role of First Lord of the Treasury is always held by the prime minister who is not a Treasury minister, and the position of Paymaster General is a sinecure often held by the Minister for the Cabinet Office to allow the holder of that office to draw a government salary. In practice it is, therefore, the third most senior Treasury minister and has attended Cabinet in the past.

The incumbent as of October 2022 is Victoria Atkins. The position is shadowed by the shadow financial secretary to the treasury.

History

The role of Financial Secretary to the Treasury was created in 1711 and was known as the Junior Secretary to the Treasury to help deal with the increasing workload of the Senior Secretary to the Treasury. The first Junior Secretary to the Treasury is recorded as Thomas Harley who was appointed on 11 June 1711. The position has continued without any major interruption to the present day. Initially when the position of Senior Secretary to the Treasury became vacant not as the result of an election of change of government the Junior Secretary was usually automatically promoted to the senior role. Over time however, the roles of the Senior and Junior Secretaries began to diverge with the Senior Secretary post being used as a sinecure post for the Chief Whip, with no formal responsibilities to the Treasury. The Junior Secretary however remained a substantive position working in the Treasury. As such the Senior Secretary became known as the 'Parliamentary Secretary to the Treasury' while the Junior Secretary became known as the 'Financial Secretary to the Treasury' and the 'automatic' promotion from Junior to Senior ceased. While the exact date this change occurred is disputed it is agreed that by 1830 the distinction was complete.[1]

In 1923 Sir William Joynson-Hicks became the–to date–only Financial Secretary to serve in the Cabinet due to the Prime Minister, Stanley Baldwin, also concurrently serving as Chancellor of the Exchequer.

In May 2010 as part of the ministerial reorganisation by the First Cameron ministry, the Financial Secretary was given the additional semi-official title of City Minister. This position was retained until April 2014 when following the promotion of Sajid Javid to Secretary of State for Culture, Media and Sport the portfolio of City Minister was moved from the Financial Secretary to the Treasury to the Economic Secretary to the Treasury.[2]

Appointment to the position of Financial Secretary to the Treasury is often considered an important stepping stone in a politician's career; the four of previous five holders of the office have gone on to hold Cabinet-level positions.

Notable former Financial Secretaries to the Treasury include Lord Frederick Cavendish, Austen Chamberlain, Stanley Baldwin, Enoch Powell, Nigel Lawson, and Norman Lamont.

Current role

The current responsibilities of the Financial Secretary to the Treasury include Departmental responsibility for the Office for National Statistics, and the Royal Mint.[citation needed] The Financial Secretary to the Treasury had Departmental responsibility for HM Customs & Excise until the merger with the Inland Revenue to form HM Revenue & Customs.[citation needed]

Financial Secretaries to the Treasury since 1830

see Secretary to the Treasury for earlier incumbents

1830–1900

Colour key (for political parties):
  Conservative   Liberal   Peelite   Tories   Whig

Name Portrait Term of office Political party Prime Minister Chancellor
Thomas Spring Rice
1stBaronMonteagle.jpg
26 November 1830 6 June 1834 Whig Earl Grey Viscount Althorp
Francis Baring
Francis Baring, 1st Baron Northbrook by Sir George Hayter.jpg
6 June 1834 14 November 1834 Whig
Viscount Melbourne
Office not in use 15 November 1834 - 19 December 1834 Duke of Wellington
(Caretaker)
Lord Denman
LCJ (interim)
Sir Thomas Fremantle, Bt 20 December 1834 April 1835 Conservative
or Tory
Peel Peel
Francis Baring
Francis Baring, 1st Baron Northbrook by Sir George Hayter.jpg
21 April 1835 26 August 1839 Whig Viscount Melbourne Spring Rice
Robert Gordon 6 September 1839 1841 Whig Baring
Richard More O'Ferrall 9 June 1841 30 August 1841 Whig
Sir George Clerk 8 September 1841 1845 Conservative Peel Goulburn
Edward Cardwell
1stViscountCardwell.jpg
4 February 1845 29 June 1846 Conservative
John Parker 7 July 1846 1849 Whig Lord John Russell Wood
William Goodenough Hayter 22 May 1849 1850 Whig
George Cornewall Lewis
Sir George Cornewall Lewis, 2nd Bt.jpg
9 July 1850 1852 Whig
George Alexander Hamilton
Gahamilton.jpg
2 March 1852 1852 Conservative Earl of Derby Disraeli
James Wilson
James Wilson by Sir John Watson-Gordon.jpg
5 January 1853 19 February 1858 Whig Earl of Aberdeen
(Coalition)
Gladstone
Viscount Palmerston Lewis
George Alexander Hamilton
Gahamilton.jpg
2 March 1858 1859 Conservative Earl of Derby Disraeli
Sir Stafford Northcote, Bt
Stafford Northcote, 1st Earl of Iddesleigh.jpg
21 January 1859 1859 Conservative
Samuel Laing 24 June 1859 1860 Liberal Viscount Palmerston Gladstone
Frederick Peel 2 November 1860 1865 Liberal
Hugh Childers
Hugh Childers, Lock & Whitfield woodburytype, 1876-83 crop.jpg
19 August 1865 26 June 1866 Liberal
Earl Russell
George Ward Hunt
George Ward Hunt (30 July 1825 – 29 July 1877) .jpg
14 July 1866 29 February 1868 Conservative Earl of Derby Disraeli
George Sclater-Booth
George Sclater-Booth, Vanity Fair, 1874-08-08.jpg
4 March 1868 1 December 1868 Conservative Disraeli Hunt
Acton Smee Ayrton
Acton Smee Ayrton, Vanity Fair, 1869-10-23.jpg
9 December 1868 1869 Liberal Gladstone Lowe
James Stansfeld
James Stansfeld.JPG
2 November 1869 1871 Liberal
William Edward Baxter
William Edward Baxter00.jpg
17 March 1871 11 August 1873 Liberal
John Dodson
John George Dodson, 1st Baron Monk Bretton.jpg
11 August 1873 1874 Liberal Gladstone
William Henry Smith
William Henry Smith (1825–1891).jpg
21 February 1874 1877 Conservative Disraeli Northcote
Frederick Stanley
Frederick Arthur Stanley.jpg
14 August 1877 1878 Conservative
Sir Henry Selwin-Ibbetson, Bt 2 April 1878 21 April 1880 Conservative
Lord Frederick Cavendish
Cavendish, Lord Frederick Charles (1836-1882), by John D. Miller, pubd 1883 (after Sir William Blake Richmond, exh. RA 1874).jpg
28 April 1880 1882 Liberal Gladstone Gladstone
Leonard Courtney
1stLordCourteney.jpg
6 May 1882 12 December 1884 Liberal
Childers
Sir J. T. Hibbert
John Tomlinson Hibbert.jpg
12 December 1884 9 June 1885 Liberal
Sir Henry Holland, Bt
Knutsford1.JPG
24 June 1885 1885 Conservative Marquess of Salisbury Hicks Beach
Sir Matthew White Ridley, Bt
Matthew White Ridley sketch.jpg
1885 1886 Conservative
William Jackson
William Lawies Jackson.JPG
1886 28 January 1886 Conservative
Henry Fowler
Portrait of Henry Fowler, 1st Viscount Wolverhampton.jpg
6 February 1886 20 July 1886 Liberal Gladstone Harcourt
William Jackson
William Lawies Jackson.JPG
3 August 1886 1891 Conservative Marquess of Salisbury Lord Randolph Churchill
Viscount Goschen
John Eldon Gorst
John Eldon Gorst.jpg
9 November 1891 11 August 1892 Conservative
Sir J. T. Hibbert
John Tomlinson Hibbert.jpg
18 August 1892 22 June 1895 Liberal Gladstone Harcourt
Earl of Rosebery
Robert William Hanbury
Robert Hanbury.JPG
29 June 1895 1900 Conservative Marquess of Salisbury
(Unionist Coalition)
Hicks Beach

1900–2001

Colour key (for political parties):
  Conservative   Labour   Liberal   Liberal National   Liberal Unionist   National Labour   None   Unionist

Name Portrait Term of office Political party Prime Minister Chancellor
Sir Austen Chamberlain
Austen Chamberlain nobel.jpg
7 November 1900 11 August 1902 Liberal Unionist Marquess of Salisbury
(Unionist Coalition)
Hicks Beach
Balfour
(Unionist Coalition)
William Fisher
William Hayes Fisher, 1st Baron Downham.jpg
11 August 1902 April 1903 Conservative Ritchie
Arthur Elliot
Arthur Elliott.png
10 April 1903 9 October 1903 Conservative
Victor Cavendish
GG Duke of Devonshire.jpg
9 October 1903 5 December 1905 Conservative A. Chamberlain
Reginald McKenna
Reginald McKenna photo.jpg
12 December 1905 23 January 1907 Liberal Campbell-Bannerman Asquith
Walter Runciman
1905 Walter Runciman.jpg
29 January 1907 1908 Liberal
Charles Hobhouse
Charles Hobhouse 2.jpg
12 April 1908 1911 Liberal Asquith
(I)
Lloyd George
Thomas McKinnon Wood
Thomas Mackinnon Wood.jpg
23 October 1911 13 February 1912 Liberal
Charles Masterman

MP for Bethnal Green South West

(1873–1927)

1906 Charles Masterman.jpg
13 February 1912 11 February 1914 Liberal
Edwin Montagu

MP for Chesterton

(1879–1924)

Edwin Samuel Montagu.jpg
11 February 1914 3 February 1915 Liberal
Francis Dyke Acland

MP for Camborne

(1874–1939)

Francis Dyke Acland.jpg
3 February 1915 25 May 1915 Liberal
Edwin Montagu

MP for Chesterton

(1879–1924)

Edwin Samuel Montagu.jpg
26 May 1915 9 July 1916 Liberal Asquith
(Coalition)
McKenna
Thomas McKinnon Wood

MP for Glasgow St Rollox

(1855–1927)

Thomas Mackinnon Wood.jpg
9 July 1916 5 December 1916 Liberal
Sir Hardman Lever

Baronet

Hardman Lever 1917.jpg
15 December 1916 19 May 1919[Note 1] None
Civil servant
Lloyd George
(Coalition)
Law
(December 1916
– January 1919)

A. Chamberlain
(January 1919
– April 1921)
Stanley Baldwin

MP for Bewdley

(1867–1947)

Stanley Baldwin ggbain.35233.jpg
18 June 1917[Note 1] 1 April 1921 Conservative
Hilton Young

MP for Norwich

(1879–1960)

Lord Kennet.jpg
21 April 1921 19 October 1922 Liberal Horne
John Hills

MP for City of Durham

(1867–1938)

John Waller Hills.jpg
6 November 1922 1923 Conservative Law Baldwin
Archibald Boyd-Carpenter

MP for Bradford North

(1873–1937)

Archibald Boyd-Carpenter.jpg
12 March 1923 May 1923 Conservative
Sir William Joynson-Hicks

MP for Twickenham

(1865–1932)

Viscount Brentford.jpg
25 May 1923 27 August 1923[Note 2] Conservative Baldwin
Walter Guinness

MP for Bury St Edmunds

(1880–1944)

Walter Guinness, 1st Baron Moyne.png
5 October 1923 1923 Conservative N. Chamberlain
William Graham

MP for Edinburgh Central

(1887–1932)

Willie Graham.jpg
23 January 1924 4 November 1924 Labour MacDonald Snowden
Walter Guinness

MP for Bury St Edmunds

(1880–1944)

Walter Guinness, 1st Baron Moyne.png
11 November 1924 5 November 1925 Conservative Baldwin Churchill
Ronald McNeill

MP for Canterbury

(1861–1934)

Ronald McNeill, 1st Baron Cushendun.jpg
5 November 1925 1 November 1927 Conservative
Arthur Samuel

MP for Farnham

(1872–1942)

1 November 1927 5 June 1929 Conservative
Frederick Pethick-Lawrence

MP for Leicester West

(1871–1961)

British Political Personalities 1936-1945 HU59768.jpg
11 June 1929 August 1931 Labour MacDonald
(II)
Snowden
Walter Elliot

MP for Glasgow Kelvingrove

(1888–1958)

Walter Elliott MP.jpg
24 August 1931 29 September 1932 Unionist MacDonald
(First National ministry)
MacDonald
(Second National ministry)
N. Chamberlain
Leslie Hore-Belisha

MP for Plymouth Devonport

(1893–1957)

Leslie Hore.jpg
29 September 1932 29 June 1934 Liberal National
Duff Cooper

MP for Westminster St George's

(1890–1954)

Duff Cooper MP (cropped).jpg
29 June 1934 22 November 1935 Conservative
Baldwin
(Third National ministry)
William Morrison

MP for Cirencester and Tewkesbury

(1893–1961)

Lord Dunrossil-02.jpg
22 November 1935 29 October 1936 Conservative
John Colville

MP for Midlothian and Peebles Northern

(1894–1954)

29 October 1936 1938 Unionist
N. Chamberlain
(Fourth National ministry)
Simon
Euan Wallace

MP for Hornsey

(1892–1941)

Euan Wallace.jpg
16 May 1938 21 April 1939 Conservative
Harry Crookshank

MP for Gainsborough

(1893–1961)

Harrycrookshank.jpg
21 April 1939 7 February 1943 Conservative
N. Chamberlain
(War)
Churchill
(War)
Wood
Ralph Assheton

MP for Rushcliffe

(1901–1984)

7 February 1943 29 October 1944 Conservative
Anderson
Osbert Peake

MP for Leeds North

(1897–1966)

29 October 1944 26 July 1945 Conservative
Churchill
(Caretaker)
William Glenvil Hall

MP for Colne Valley

(1887–1962)

4 August 1945 2 March 1950 Labour Attlee Dalton
Cripps
Douglas Jay

MP for Battersea North

(1907–1996)

2 March 1950 26 October 1951 Labour
Gaitskell
John Boyd-Carpenter

MP for Kingston-upon-Thames

(1908–1998)

30 October 1951 28 July 1954 Conservative Churchill Butler
Henry Brooke

MP for Hampstead

(1903–1984)

28 July 1954 January 1957 Conservative
Eden
Macmillan
Enoch Powell

MP for Wolverhampton South West

(1912–1998)

Encoch Powell 7 Allan Warren.jpg
14 January 1957 15 January 1958 Conservative Macmillan Thorneycroft
Jack Simon

MP for Middlesbrough West

(1911–2006)

15 January 1958 22 October 1959 Conservative Heathcoat-Amory
Sir Edward Boyle

MP for Birmingham Handsworth

(1923–1981)

22 October 1959 16 July 1962 Conservative
Lloyd
Anthony Barber

MP for Doncaster

(1920–2005)

16 July 1962 20 October 1963 Conservative Maudling
Alan Green

MP for Preston South
(1911–1991)

23 October 1963 16 October 1964 Conservative Douglas-Home
Niall MacDermot

MP for Derby North
(1916–1996)

1989 International Commission of Jurists uitreiking 4.jpg
21 October 1964 29 August 1967 Labour Wilson Callaghan
Harold Lever

MP for Manchester Cheetham
(1914–1995)

29 August 1967 13 October 1969 Labour
Jenkins
Dick Taverne

MP for Lincoln
(born 1928)

Official portrait of Lord Taverne crop 2.jpg
13 October 1969 19 June 1970 Labour
Patrick Jenkin

MP for Wanstead and Woodford
(1926–2016) )

19 June 1970 7 April 1972 Conservative Heath Macleod
Barber
Terrence Higgins

MP for Worthing
(born 1928)

Official portrait of Lord Higgins crop 2.jpg
7 April 1972 4 March 1974 Conservative
John Gilbert

MP for Dudley East
(1927–2013)

8 March 1974 17 June 1975 Labour Wilson Healey
Robert Sheldon

MP for Ashton under Lyne
(1923–2020)

17 June 1975 4 May 1979 Labour
Callaghan
Nigel Lawson

MP for Blaby
(born 1932)

Official portrait of Lord Lawson of Blaby crop 2.jpg
4 May 1979 14 September 1981 Conservative Thatcher Howe
Nicholas Ridley

MP for Cirencester and Tewkesbury
(1929–1993)

September 1981 11 June 1983 Conservative
John Moore

MP for Croydon Central
(1937–2019)

Mr John Moore M.P. addressing the Annual LSE Society Dinner, 5th June, 1985.jpg
19 October 1983 21 May 1986 Conservative Lawson
Norman Lamont

MP for Kingston-upon-Thames
(born 1942)

Official portrait of Lord Lamont of Lerwick 2020 crop 2.jpg
21 May 1986 24 July 1989 Conservative
Peter Lilley

MP for St Albans
(born 1943)

Official portrait of Lord Lilley crop 2.jpg
24 July 1989 28 November 1990 Conservative
Major
Francis Maude

MP for North Warwickshire
(born 1953)

Francis Maude, Minister for the Cabinet Office.jpg
28 November 1990 11 April 1992 Conservative Major Lamont
Stephen Dorrell

MP for Loughborough
(born 1952)

Stephen dorrell mp -nhs confederation annual conferencepercent2c manchester-11july2011 - crop.jpg
11 April 1992 11 July 1994 Conservative
Clarke
Sir George Young, Bt

MP for Ealing Acton
(born 1941)

Official portrait of Lord Young of Cookham, 2020.jpg
11 July 1994 5 July 1995 Conservative
Michael Jack

MP for Fylde
(born 1946)

Michael Jack CBE.png
5 July 1995 2 May 1997 Conservative
Dawn Primarolo

MP for Bristol South
(born 1954)

Official portrait of Baroness Primarolo crop 2.jpg
2 May 1997 4 January 1999 Labour Blair Brown
Barbara Roche

MP for Hornsey and Wood Green
(born 1954)

4 January 1999 29 July 1999 Labour
Stephen Timms

MP for East Ham
(born 1955)

Official portrait of Rt Hon Stephen Timms MP crop 2.jpg
29 July 1999 8 June 2001 Labour

Note 1. ^ Between June 1917 and May 1919 Lever and Baldwin jointly held the position of Financial Secretary.
Note 2. ^ As Baldwin was both Prime Minister and Chancellor of the Exchequer Joynson-Hicks was a member of the Cabinet.

2001–present

Colour key (for political parties):
  Conservative   Labour

Name Portrait Term of office Political party Prime Minister Chancellor
Paul Boateng

MP for Brent South
(born 1951)

Official portrait of Lord Boateng, 2020.jpg
8 June 2001 May 2002 Labour Blair Brown
Ruth Kelly

MP for Bolton West
(born 1968)

RuthKellyMP.jpg
May 2002 9 September 2004 Labour
Stephen Timms

MP for East Ham
(born 1955)

Official portrait of Rt Hon Stephen Timms MP crop 2.jpg
12 September 2004 6 May 2005 Labour
John Healey

MP for Wentworth
(born 1960)

Official portrait of Rt Hon John Healey MP crop 2.jpg
6 May 2005 28 June 2007 Labour
Jane Kennedy

MP for Liverpool Wavertree
(born 1958)

Jane Kennedy.jpg
28 June 2007 5 October 2008 Labour Brown Darling
Stephen Timms

MP for East Ham
(born 1955)

Official portrait of Rt Hon Stephen Timms MP crop 2.jpg
5 October 2008 11 May 2010 Labour
Mark Hoban

MP for Fareham
(born 1964)

Mark Hoban MP speaking at
13 May 2010 4 September 2012 Conservative Cameron
(Coalition)
Osborne
Greg Clark

MP for Tunbridge Wells
(born 1967)

Official portrait of Rt Hon Greg Clark MP crop 2.jpg
4 September 2012 7 October 2013 Conservative
Sajid Javid

MP for Bromsgrove
(born 1969)

Official portrait of Rt Hon Sajid Javid MP crop 2.jpg
7 October 2013 9 April 2014 Conservative
Nicky Morgan

MP for Loughborough
(born 1972)

Official portrait of Baroness Morgan of Cotes crop 2.jpg
9 April 2014 15 July 2014 Conservative
David Gauke

MP for South West Hertfordshire
(born 1971)

Official portrait of Mr David Gauke crop 2.jpg
15 July 2014 14 July 2016 Conservative
Cameron
(II)
Jane Ellison

MP for Battersea
(born 1964)

Jane Ellison MP.jpg
15 July 2016 9 June 2017 Conservative May
(I)
Hammond
Mel Stride

MP for Central Devon
(born 1961)

Official portrait of Rt Hon Mel Stride MP crop 2.jpg
12 June 2017 23 May 2019 Conservative May
(II)
Jesse Norman

MP for Hereford and South Herefordshire
(born 1962)

Official portrait of Rt Hon Jesse Norman MP crop 2.jpg
23 May 2019 16 September 2021 Conservative
Johnson Javid


Sunak
Lucy Frazer

MP for South East Cambridgeshire
(born 1972)

Official portrait of Lucy Frazer MP crop 2.jpg
16 September 2021 7 September 2022 Conservative
Zahawi
Andrew Griffith

MP for Arundel and South Downs
(born 1971)

Official portrait of Andrew Griffith MP crop 2.jpg
8 September 2022 27 October 2022 Conservative Truss Kwarteng
Hunt
Victoria Atkins

MP for Louth and Horncastle
(born 1976)

Official portrait of Victoria Atkins MP crop 2.jpg
27 October 2022 Incumbent Conservative Sunak

See also

References

  1. ^ "Secretaries 1660-1870". British History Online. Retrieved 9 October 2016.
  2. ^ Andrea Leadsom MP appointed new City Minister for HMT, Tech UK, 10 April 2014, retrieved 4 August 2016