Ministerial role

Chancellor of the Exchequer

Responsibilities

The Chancellor of the Exchequer is the government’s chief financial minister and as such is responsible for raising revenue through taxation or borrowing and for controlling public spending. He has overall responsibility for the work of the Treasury.

The Chancellor’s responsibilities cover:

  • fiscal policy (including the presenting of the annual Budget)
  • monetary policy, setting inflation targets
  • ministerial arrangements (in his role as Second Lord of the Treasury)

Current role holder: The Rt Hon George Osborne MP

George Osborne became Chancellor of the Exchequer in May 2010. He has been the Conservative MP for Tatton, Cheshire since June 2001.

Education

He was born and educated in London, studying modern history at Oxford University.

Political career

George worked as Political Secretary to the Leader of the Opposition before being elected to Parliament. He entered Parliament as the youngest Conservative MP in the House of Commons.

After serving on the Public Accounts Committee and holding a number shadow ministerial posts, he was appointed to the position of Shadow Chancellor in 2005, aged 33, where he served opposite Chancellors Gordon Brown and Alistair Darling until 2010.

In 2005 he successfully ran David Cameron’s campaign to become Leader of the Conservative Party. Following the 2010 Election he was part of the small Conservative negotiating team during the discussions that led to the formation of the Coalition Government. In May 2010 he became Chancellor of the Exchequer.

He was the youngest Chancellor to take office since Randolph Churchill in 1886.

Personal life

George is married to the writer Frances Osborne. They have 2 children.

Previous holders of this role

Find out more about previous holders of this role in our past Chancellors of the Exchequer section.

Policies

under the responsibility of The Rt Hon George Osborne MP as Chancellor of the Exchequer

  1. Helping people to find and stay in work

    • 12 March 2014
  2. Creating stronger and safer banks

    • 22 January 2014
  3. Achieving strong and sustainable economic growth

    • 31 July 2013
  4. Reducing the deficit and rebalancing the economy

    • 9 July 2013
  5. Spending taxpayers' money responsibly

    • 9 July 2013
  6. Making it easier for people to access and use financial services

    • 24 April 2013
  7. Improving regulation of the financial sector to protect customers and the economy

    • 24 April 2013
  8. Creating a simpler, fairer tax system

    • 24 April 2013

Announcements

by Chancellor of the Exchequer

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  1. Government to introduce new criminal offence for tax evaders

    • 14 April 2014
    • News story
  2. Chancellor's speech to the American Enterprise Institute

    • 11 April 2014
    • Speech
  3. Coverage of the Chancellor's trade trip to Brazil

    • 9 April 2014
    • News story
  4. £375m fund to promote development though science and innovation announced

    • 9 April 2014
    • News story
  5. Video games tax relief passes final hurdle

    • 7 April 2014
    • News story
  6. Britain and Brazil as partners: Chancellor's speech in Brazil

    • 7 April 2014
    • Speech
  7. Chancellor supports major north London regeneration projects

    • 4 April 2014
    • News story
  8. New tax statements extended to 4 million extra people from October

    • 3 April 2014
    • News story
  9. Tax cuts for businesses worth over £11 billion per year in 2014-2015

    • 1 April 2014
    • News story
  10. Chancellor speaks on tax and benefits

    • 31 March 2014
    • Speech

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