Financial Secretary to the Treasury
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Financial Secretary to the Treasury is a mid-level ministerial post in the British Treasury. It is the fifth most significant ministerial role within the Treasury after the
First Lord of the Treasury The First Lord of the Treasury is the head of the commission Commission or commissioning may refer to: Business and contracting * Commission (remuneration), a form of payment to an agent for services rendered ** Commission (art), the purchase or ...
, the
Chancellor of the Exchequer The chancellor of the Exchequer, often abbreviated to the chancellor, is a senior minister of the Crown Minister of the Crown is a formal constitutional term used in Commonwealth realm A Commonwealth realm is a sovereign state that ha ...
, the
Chief Secretary to the Treasury The Chief Secretary to the Treasury (CST) is the third most senior ministerial office in HM Treasury, after the First Lord of the Treasury (though this office is only nominal and held by the Prime Minister of the United Kingdom, Prime Minister, who ...
, and the
Paymaster General Her Majesty's Paymaster General or HM Paymaster General is a ministerial position in the Cabinet Office of the United Kingdom The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain,Us ...
. It is almost never a
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office. The incumbent as of September 2021 is
Lucy Frazer Lucy Frazer (born 17 May 1972) is a British politician and barrister serving as Financial Secretary to the Treasury since 2021. She previously served as Solicitor General for England and Wales and as Minister of State for Prisons. She has been t ...
, who previously served as Solicitor General for England and Wales and as Minister of State for Prisons. The previous office holder was Jesse Norman, who left the government in Boris Johnson's 2021 British cabinet reshuffle. 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 Parliamentary Secretary to the Treasury, Senior Secretary to the Treasury. The first Junior Secretary to the Treasury is recorded as Thomas Harley (of Kinsham), 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. In 1923 William Joynson-Hicks, 1st Viscount Brentford, 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 The chancellor of the Exchequer, often abbreviated to the chancellor, is a senior minister of the Crown Minister of the Crown is a formal constitutional term used in Commonwealth realm A Commonwealth realm is a sovereign state that ha ...
. 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. 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 (1942), 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. The Financial Secretary to the Treasury had Departmental responsibility for HM Customs & Excise until the merger with the Inland Revenue to form Her Majesty's Revenue and Customs, HM Revenue and Customs.


Financial Secretaries to the Treasury since 1830

:''see Secretary to the Treasury for earlier incumbents''


1830–1900

Colour key (for political parties):


1900–2001

Colour key (for political parties):
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):


See also

*Secretary to the Treasury *
Chief Secretary to the Treasury The Chief Secretary to the Treasury (CST) is the third most senior ministerial office in HM Treasury, after the First Lord of the Treasury (though this office is only nominal and held by the Prime Minister of the United Kingdom, Prime Minister, who ...


References


External links


British History Online List of Secretaries to the Treasury
{{Ministers at HM Treasury Financial Secretary to the Treasury, Lists of government ministers of the United Kingdom Ministerial offices in the United Kingdom 1711 establishments in Great Britain