A summary of the new Treasury ministers following July 2016's post-referendum reshuffle.

Name Role Responsibilities Previous roles
Philip Hammond Chancellor of the Exchequer Overall responsibility Transport, Defence and Foreign Secretary
David Gauke Chief Secretary to the Treasury
  • 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
    • capital investment
    • infrastructure deals
  • Treasury interest in devolution to Scotland, Wales and NI
  • EU Budget and wider EU issues, including deputising for the Chancellor at ECOFIN
  • Childcare policy, including tax free childcare
  • Tax credits
  • Labour market policy
Trained solicitor, Treasury Secretary since 2010
Jane Ellison Financial Secretary
  • Strategic oversight of the UK tax system including direct, indirect, business, property and personal taxation
  • Corporate and small business taxation
  • European and international tax issues
  • Charities, the voluntary sector and gift aid
  • Environment and transport taxation, North Sea oil, gas and shipping
  • Energy policy and climate change
  • Excise (alcohol, tobacco) and gambling duties
  • Customs policy
  • Personal savings tax and pensions tax policy
  • Women in the economy
  • HMRC, Valuation Office and the Government Actuary’s Department
  • Parliamentary deputy on public spending issues
Undersecretary for Public Health
Simon Kirby Economic Secretary
  • Banking and financial services reform and regulation (at home and in the EU)financial stability
  • Financial conduct
  • City competitiveness
  • Bank lending and access to finance
  • Insurance
  • Asset management
  • RBS, Lloyds and UKFI
  • Asset freezing and financial crime
  • Retail financial services
  • Equitable life
  • Foreign exchange reserves and debt management policy, National Savings and Investments and the Debt Management Office
Private Secretary in Sports & Tourism and Health
Lord O'Neill of Gatley Commercial Secretary
  • UK productivity
  • City devolution, including Northern Powerhouse
  • Infrastructure policy
  • Corporate finance, including public corporations, public private partnerships, PFI, and sales of government assets
  • Better regulation and competition policy
  • Industrial strategy
  • Working with the rest of government to promote the UK as a destination for foreign direct investment
  • Housing and planning
  • The Royal Mint
  • Crown Estate and the Royal Household
Strong finance background but no previous Government posts.