Noun
the British cabinet minister responsible for economic strategy
Source: WordNetGeorge II offered this home to Walpole as a personal gift in 1732, but Walpole accepted it only as the official residence of the First Lord of the Treasury, taking up his residence there on 22 September 1735. Source: Internet
A year later, the King appointed him First Lord of the Treasury, Chancellor of the Exchequer, and Leader of the House of Commons – making him the most powerful minister in the government. Source: Internet
Marriott, p. 87 Since 1721, every head of the Sovereign's government – with one exception in the 18th century ( William Pitt the Elder ) and one in the 19th ( Lord Salisbury ) – has been First Lord of the Treasury. Source: Internet
The prime minister sits in the cabinet solely by virtue of occupying another office, either First Lord of the Treasury (office in commission), or more rarely Chancellor of the Exchequer (the last of whom was Balfour in 1905). Source: Internet
The first official recognition given to the office had only been in the Treaty of Berlin in 1878, when Disraeli signed as "First Lord of the Treasury and Prime Minister of her Britannic Majesty". Source: Internet
The last prime minister not to be First Lord of the Treasury was Lord Salisbury at the turn of the 20th century. Source: Internet