Economic Secretary to the Treasury

Economic Secretary to the Treasury

Incumbent
Simon Kirby
since 17 July 2016
HM Treasury
Appointer Elizabeth II on the advice of the Prime Minister
Inaugural holder Douglas Jay
Formation December 1947
Website HM Treasury

The Economic Secretary to the Treasury is the fifth-most senior ministerial post in the UK Treasury, after the Chancellor of the Exchequer, the Chief Secretary to the Treasury, the paymaster-general and the financial secretary. It is not a cabinet-level post.

Since April 2014 the Economic Secretary to the Treasury has also concurrently held the portfolio of 'City Minister'.[1]

History

The office was created in November 1947. In 1961 the Economic Secretary became junior to the new office of Chief Secretary to the Treasury, which held a seat in cabinet.

Following the establishment of the Department of Economic Affairs in 1964, the Economic Secretary, Anthony Crosland, transferred to become Minister of State in that department. The post of Economic Secretary to the Treasury was abolished on 22 December 1964. Although the Department of Economic Affairs closed in 1969, the Treasury post was not re-established until 11 November 1981.

Responsibilities

The economic secretary is responsible, though more senior ministers share in decision making, for the answering of written and verbal parliamentary questions and for the devising of regulations, orders and legislation in various matters. These matters include banking and finance, including banks, insurance, personal savings, financial regulation, and foreign exchange reserves. He or she is also involved in taxation as it impacts on these areas, such as tax on savings and pensions, and Insurance Premium Tax. In addition, the economic secretary advises on economic policy and works with other treasury ministers on the Comprehensive Spending Review and finance bills.[2]

Economic Secretaries to the Treasury, 1947–present

Colour key (for political parties):
  Conservative   Labour

Name Portrait Term of office Political party Prime Minister Chancellor
Douglas Jay 13 November 1947 23 February 1950 Labour Attlee Cripps
John Edwards February 1950 1951 Labour Gaitskell
Office not in use 1951–1952 Churchill Butler
Reginald Maudling 1952 7 April 1955 Conservative
Sir Edward Boyle 1955 1956 Conservative Eden Macmillan
Derek Walker-Smith 1956 1957 Conservative
Nigel Birch 1957 1958 Conservative Macmillan Thorneycroft
Office not in use 1958 H-Amory
Frederick Erroll 1958 1959 Conservative
Anthony Barber 1959 1962 Conservative
Lloyd
Edward du Cann 1962 1963 Conservative Maudling
Maurice Macmillan 1963 1964 Conservative D-Home
Anthony Crosland 19 October 1964 22 December 1964 Labour Wilson Callaghan
Office not in use 1964–1981
Jenkins
Heath Macleod
Barber
Wilson Healey
Callaghan
Thatcher Howe
Jock Bruce-Gardyne 11 November 1981 1983 Conservative
John Moore 13 June 1983 19 October 1983 Conservative Lawson
Ian Stewart 19 October 1983 11 June 1987 Conservative
Peter Lilley 11 June 1987 24 July 1989 Conservative
Richard Ryder 24 July 1989 14 July 1990 Conservative
Major
John Maples 1990 9 April 1992 Conservative
Major Lamont
Anthony Nelson 1992 1995 Conservative
Clarke
Angela Knight 5 July 1995 1 May 1997 Conservative
Helen Liddell 3 May 1997 27 July 1998 Labour Blair Brown
Patricia Hewitt 27 July 1998 17 May 1999 Labour
Melanie Johnson 17 May 1999 8 June 2001 Labour
Ruth Kelly 8 June 2001 15 May 2002 Labour
Office not in use 2002
John Healey 15 December 2002 6 May 2005 Labour
Ivan Lewis May 2005 May 2006 Labour
Ed Balls 6 May 2006 28 June 2007 Labour
Kitty Ussher 29 June 2007 5 October 2008 Labour Brown Darling
Ian Pearson 5 October 2008 11 May 2010 Labour
Justine Greening 13 May 2010 14 October 2011 Conservative Cameron
(Coalition)		 Osborne
Chloe Smith 14 October 2011 4 September 2012 Conservative
Sajid Javid 4 September 2012 7 October 2013 Conservative
Nicky Morgan 7 October 2013 9 April 2014 Conservative
Andrea Leadsom 9 April 2014 11 May 2015 Conservative
Harriett Baldwin 11 May 2015 16 July 2016 Conservative Cameron
(II)
Simon Kirby 17 July 2016 Incumbent Conservative May Hammond

See also

References

  1. ↑ Andrea Leadsom MP appointed new City Minister for HMT, Tech UK, 10 April 2014, retrieved 4 August 2016
  2. ↑ Ministerial responsibilities HM Treasury
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