Who is responsible for managing the treasury in the UK?

The Chancellor of the Exchequer is responsible for managing the treasury in the UK, a role that is crucial in overseeing the economic and financial matters of the government. This includes responsibilities such as formulating fiscal policy, preparing the annual budget, and managing public spending. The Chancellor plays a vital role in balancing the country’s finances, collecting taxes, and managing the national debt, thereby directly influencing the economic direction of the country.

The position of Chancellor carries significant responsibilities and is one of the most important roles in the UK Cabinet, often working closely with the Prime Minister but distinct in focus. Understanding the distinction between this role and other governmental positions, like the Secretary of State for Health or the Director of Public Health, is essential, as these roles pertain to health and public welfare rather than financial management.