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First Lord of the Treasury

First Lord of the Treasury
PostFirst Lord
Bodythe Treasury of the United Kingdom
InsigniaRoyal Coat of Arms of the United Kingdom (HM Government).svg
Insigniasize140px
InsigniacaptionArms of Her Majesty's Government
IncumbentDavid Cameron
IncumbentsinceMay 11, 2010
StyleThe Right Honourable
Residence10 Downing Street
AppointerElizabeth II of the United Kingdom
as sovereign
TermlengthNo statutory limit, by established convention, the position is held by the Prime Minister of the United Kingdom who is by further convention the leader of the party victorious in the general election, which is required at least every five years.
Formation1126 (Lord High Treasurer)
1612 (First Lord of the Commission of the Treasury)
1714 (Commission has been permanent since the resignation of the Duke of Shrewsbury)
InauguralNigel (Lord High Treasurer)
Henry Howard, 1st Earl of Northampton (initial First Lord of the Commission)
The Earl of Halifax (Commission became permanent)

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The First Lord of the Treasury is the head of the commission exercising the ancient office of Lord High Treasurer in the United Kingdom, and is now always also the Prime Minister. This office is not equivalent to the usual position of the "Treasurer" in other governments; the closer equivalent of a Treasurer in the United Kingdom is the Chancellor of the Exchequer.


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