First Lord of the Treasury

The first lord of the treasury is a title held by the prime minister of the United Kingdom, as head of the lords commissioners of the treasury exercising the ancient office of Lord High Treasurer. When the ministry of Robert Walpole essentially created the position of prime minister in the 18th century, his primary official and formal title remained first lord of the treasury. 10 Downing Street is technically the official home of the first lord, although it is now entirely associated with the prime minister's office. The first lord is not the United Kingdom's finance minister; this role is instead held by the chancellor of the exchequer, who is the second lord of the treasury.