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Who we are

Chancellor of the Exchequer: Rt Hon George Osborne MP

• The Chancellor has overall responsibility for the work of the Treasury.

Chief Secretary to the Treasury: Rt Hon Danny Alexander MP

• Responsibility for public expenditure including:
  • Spending reviews and strategic planning;
  • In-year spending control;
  • Public sector pay and pensions;
  • Annually Managed Expenditure (AME) and welfare reform;
  • Efficiency and value for money in public service;
  • Procurement; and
  • Capital investment
• Treasury interest in devolution.

Financial Secretary to the Treasury: Mark Hoban MP

• Responsibility for financial services policy including:
• • Banking and financial services reform and regulation;
  • Financial stability;
  • City competitiveness;
  • Wholesale and retail markets in the UK, Europe and internationally;
  • and the Financial Services Authority (FSA);
• Banking support, including responsibility for the Asset Protection Scheme and other schemes;
• UK Financial Investments (UKFI);
• Bank lending;
• Equitable Life;
• Personal savings and pensions policy;
• The Government Actuary’s Department; 
• The EU budget; 
• Support to the Chancellor on EU and wider international finance issues.

Exchequer Secretary to the Treasury: David Gauke MP

• Strategic oversight of the UK tax system including direct, indirect, business and personal taxation;
• Corporate and small business taxation, with input from the Commercial Secretary;
• Departmental Minister for HM Revenue and Customs and the Valuation Office Agency;
• Lead Minister on European and international tax issues;
• Overall responsibility for the Finance Bill.

Economic Secretary to the Treasury: Chloe Smith MP

• Environmental issues including taxation of transport, international climate change issues and energy issues;
• North Sea oil, gas and shipping taxation;
• Tax credits and child poverty, and assisting the Chief Secretary on welfare reform;
• Charities, the voluntary sector and gift aid; 
• Excise duties and gambling, including excise fraud and law enforcement;
• Stamp duty land tax;
• The Royal Mint, Crown Estate and Departmental Minister for HM Treasury Group;
• Support for the Chief Secretary on public service pensions;
• Working with the Exchequer Secretary on the Finance Bill.

Commercial Secretary to the Treasury: Lord Sassoon

• Treasury spokesman in the House of Lords;
• Enterprise and productivity, including industrial strategy, better regulation, competition policy, infrastructure, and microeconomic reform;
• Corporate finance, including public corporations and public private partnerships;
• Assisting the Financial Secretary on financial services and banking policy, including UKFI;
• Working with the Financial Secretary to promote the Government’s financial services policies and the competitiveness of the UK;
• Asset freezing and financial crime;
• Foreign exchange reserves and debt management policy, National Savings and Investment and Debt Management Office.

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