City Minister - Misplaced Pages

(Redirected from Financial Services Secretary) Junior minister in the British Treasury

City Minister
Royal Arms as used by His Majesty's Government
Incumbent Tulip Siddiq since 9 July 2024
HM Treasury
Appointer	The British Monarch on advice of the Prime Minister
Inaugural holder	The Lord Myners
Formation	3 October 2008
Website	HM Treasury

The position of City Minister is a United Kingdom Government ministerial post in HM Treasury. The minister is responsible for the British financial services sector which is commonly known as 'the City'. The post is normally held in combination with another Treasury position, currently the Economic Secretary to the Treasury.

History

The term 'City Minister' was first used as a nickname for the position of Financial Services Secretary to the Treasury which was created by Gordon Brown upon coming to office in October 2008. The only person to have held the office was Lord Myners, who served from October 2008 to May 2010.

In May 2010 as part of the ministerial reorganisation by the Cameron Government the position of Financial Services Secretary to the Treasury was abolished. However, the idea of there being a minister specifically responsible for the City was retained and it was decided that the post would be held concurrently with the position of Financial Secretary to the Treasury, held at the time by Mark Hoban.

Following the promotion of Sajid Javid to Secretary of State for Culture, Media and Sport in April 2014 the portfolio of City Minister was moved from the Financial Secretary to the Treasury to the Economic Secretary to the Treasury.

Following the 2017 snap general election, City Minister Simon Kirby lost his seat and was succeeded by Steve Barclay.

Following Liz Truss becoming Prime Minister, although Richard Fuller retained his position as Economic Secretary to the Treasury, the City Minister brief was removed from him and returned to the Financial Secretary to the Treasury.

List of officeholders

Colour key (for political parties):
Conservative Labour

City Minister		Term of office		Political party		Chancellor
As Financial Services Secretary to the Treasury
	Paul Myners, Baron Myners	3 October 2008	13 May 2010	Labour	Brown	Darling
As Financial Secretary to the Treasury
	Mark Hoban	13 May 2010	4 September 2012	Conservative	Cameron (Coalition)	Osborne
	Greg Clark	4 September 2012	7 October 2013	Conservative
	Sajid Javid	7 October 2013	9 April 2014	Conservative
As Economic Secretary to the Treasury
	Andrea Leadsom	9 April 2014	11 May 2015	Conservative	Cameron (Coalition)	Osborne
	Harriett Baldwin	11 May 2015	16 July 2016	Conservative	Cameron (II)	Osborne
	Simon Kirby	16 July 2016	8 June 2017	Conservative	May	Hammond
	Steve Barclay	14 June 2017	9 January 2018	Conservative
	John Glen	9 January 2018	6 July 2022	Conservative
					Johnson	Javid
						Sunak
	Richard Fuller	8 July 2022	6 September 2022	Conservative		Sunak
	Richard Fuller	8 July 2022	6 September 2022	Conservative		Zahawi
As Financial Secretary to the Treasury
	Andrew Griffith	7 September 2022	27 October 2022	Conservative	Truss	Kwarteng
						Kwarteng
						Hunt
As Economic Secretary to the Treasury
	Andrew Griffith	27 October 2022	13 November 2023	Conservative	Sunak	Hunt
	Bim Afolami	13 November 2023	5 July 2024	Conservative	Sunak	Hunt
	Tulip Siddiq	9 July 2024	Incumbent	Labour	Starmer	Reeves

References

House of Commons, Treasury Committee. Banking Crisis: Reforming Corporate Governance and Pay in the City, Ninth Report of Session 2008–09. p. 42.
"City minister Myners seeks review of how investment banking has 'permeated' society". The Daily Telegraph). 25 January 2010. Retrieved 20 May 2010.
"Paul Myners CBE - Financial Services Secretary to the Treasury". HM Treasury. Archived from the original on 7 April 2010. Retrieved 12 May 2010.
"Speech by the Financial Services Secretary to the Treasury, Paul Myners to the Association of Foreign Banks". HM Treasury official website (archived by The National Archives). 11 June 2009. Archived from the original on 28 June 2009. Retrieved 20 May 2010.
Andrea Leadsom MP appointed new City Minister for HMT, Tech UK, 10 April 2014, retrieved 4 August 2016
"Andrew Griffith MP". 21 September 2022. Retrieved 24 August 2023.

v t e HM Treasury
Headquarters: 1, Horse Guards Road
Ministers	First Lord of the Treasury Chancellor of the Exchequer / Second Lord of the Treasury Chief Secretary to the Treasury Parliamentary Secretary to the Treasury* Paymaster General Financial Secretary to the Treasury Economic Secretary to the Treasury & City Minister Exchequer Secretary to the Treasury Commercial Secretary to the Treasury Lords Commissioners of the Treasury*
Civil Service	Permanent Secretary to the Treasury
Non-ministerial departments	Government Actuary's Department National Savings and Investments
Executive agencies	Debt Management Office Commissioners for the Reduction of the National Debt Government Internal Audit Agency National Infrastructure Commission
Executive non-departmental public bodies	Office for Budget Responsibility
Other bodies	Crown Estate Infrastructure and Projects Authority Reclaim Fund Royal Mint UK Government Investments National Wealth Fund
Topics	Autumn Budget Budget day Spring Statement
Offices in italics are not currently in use * Sinecure offices nominally associated with the Treasury de facto held by Government Whips

v t e Ministers of HM Treasury
Cabinet ministers	Keir Starmer (First Lord of the Treasury and Prime Minister) Rachel Reeves (Second Lord of the Treasury and Chancellor of the Exchequer)
* also attending Cabinet

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