Lord Commissioner of the Treasury

In the United Kingdom there are at least six Lords Commissioners of His Majesty's Treasury, serving as a commission for the ancient office of Treasurer of the Exchequer. The board consists of the First Lord of the Treasury, the Second Lord of the Treasury, and four or more junior lords acting as assistant whips in the House of Commons to whom this title is usually applied. It is commonly thought that the Lords Commissioners of HM Treasury serve as commissioners for exercising the office of Lord High Treasurer, however this is not true. The confusion arises because both offices used to be held by the same individual at the same time. Strictly they are commissioners for exercising the office of Treasurer of the Exchequer of Great Britain and Lord High Treasurer of Ireland (similar to the status of the Lords Commissioners of the Admiralty exercising the office of Lord High Admiral until 1964, when the Queen resumed the office). These offices (excluding Lord High Treasurer of Ireland, which went into commission in 1817) have continually been in commission since the resignation in 1714 of Charles, Duke of Shrewsbury, who was appointed to the office by Queen Anne on her deathbed. Until the 19th century, this commission made most of the economic decisions of Great Britain (England, before the Act of Union 1707). However, starting during the 19th century, these positions became sinecure positions, with the First Lord serving almost invariably as Prime Minister, the Second Lord invariably as Chancellor of the Exchequer, and the junior lords serving as whips in Parliament.