First Lord of the Treasury

The First Lord of the Treasury is the head of the commission exercising the ancient office of Lord High Treasurer in the United Kingdom, usually but not always the Prime Minister.

Official residences

Contrary to popular impression, 10 Downing Street is the residence of the First Lord of the Treasury, not the prime minister. There is in fact no prime ministerial residence apart from Chequers, a country house in Buckinghamshire used as a weekend and holiday home; however, all modern prime ministers have simultaneously been First Lord of the Treasury, so 10 Downing Street has come to be closely identified with the premiership.

Related Topics:
10 Downing Street - Chequers - Country house - Buckinghamshire

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Similarly, 11 Downing Street is the residence of the Second Lord of the Treasury, not the residence of the Chancellor of the Exchequer; given that all chancellors since 1755 who were not themselves prime minister have also been Second Lord, people often wrongly presume that 11 Downing Street is the Chancellor's residence.

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