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Ministerial role

Chancellor of the Exchequer

Organisations: HM Treasury
Current role holder: The Rt Hon John Healey MP

Responsibilities

The Chancellor of the Exchequer is the government’s chief financial minister and is responsible for growing the UK economy, 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:  

  • Economic and fiscal policy (including presenting the annual Budget) 

  • Oversight of the monetary framework, including setting the inflation remit, and liaison with the Governor of the Bank of England on monetary policy 

  • UK growth and productivity, including working across government on innovation, new technologies, skills, labour markets, migration and competition.   

  • UK public financial institutions  

  • Capital markets and listings 

  • Leading on international economic and financial affairs including at the G7 and G20 and acting as the UK Governor of the IMF, EBRD and AIIB.  

  • Economic security and resilience policy 

  • International defence and security financing

Current role holder

The Rt Hon John Healey MP

John Healey was appointed Chancellor of the Exchequer on 20 July 2026.

He was previously Secretary of State for Defence from 5 July 2024 to 11 June 2026. He was elected as the MP for Rawmarsh and Conisbrough in July 2024.

He was Shadow Housing Secretary from 2015 to 2020 and Shadow Health Secretary from 2010-2011. During Labour’s time in Government, John was PPS to the Chancellor of the Exchequer from 1999-2001 and a Minister from 2001-2010, serving successively as Adult Skills Minister, Treasury Minister, Local Government Minister and Housing Minister.

Before entering Parliament, John was Campaigns Director at the Trades Union Congress and a disability rights campaigner.

John is married with one son and lives in Rotherham.

More about this person

Previous holders of this role

  1. The Rt Hon Rachel Reeves MP

    2024 to 2026

  2. The Rt Hon Jeremy Hunt MP

    2022 to 2024

  3. The Rt Hon Kwasi Kwarteng

    2022 to 2022

  4. The Rt Hon Nadhim Zahawi

    2022 to 2022

  5. The Rt Hon Rishi Sunak MP

    2020 to 2022

  6. The Rt Hon Sajid Javid

    2019 to 2020

  7. The Rt Hon Philip Hammond

    2016 to 2019

  8. The Rt Hon George Osborne

    2010 to 2016