HM Treasury

HM Treasury (Her / His Majesty's Treasury or Treasury short ) is the British Financial and Economic Affairs. Head is the Chancellor of the Exchequer. Current incumbent is George Osborne.

The Ministry maintains an Information System ( COINS = Combined Online Information System), which provides detailed output lists among thousands of categories.

History

The Ministry performs its origin back to the Kingdom of England, which was established in 1126 under the reign of Henry the First of England. Originally Treasury (English treasury ) the place where the king kept his treasures. The head of that place was called Lord Treasurer ( Lord Treasurer ). With the House of Tudor was the lord treasurer of one of the most important representatives of the state and competed with the Lord Chancellor ( Lord Chancellor ) to the main rank. 1667 Charles II appointed Sir George Downing, the builder of Downing Street to reform the Treasury Treasury and taxation radically.

Beginning of the 16th century the Treasury Treasury was frequently entrusted a commission as an individual. As of 1714, only commissions were appointed. The commissioners were as Lord Treasurer ( Lords of the Treasury ) and are distinguished on the basis of seniority with a number (first, second ... ). Finally, you looked at the First Lord of the Treasury as the "natural" head of government and from Robert Walpole, they were the unofficial prime minister. Before 1827 was the first Lord of the Treasury, when he was a commoner, the title of Chancellor of the Exchequer ( Chancellor of the Exchequer ), while if the first lord was a noble who served as Chancellor of the Exchequer Second Lord of the Treasury. From 1827 was Chancellor of the Exchequer always the Second Lord.