City Minister
Royal Arms as used by His Majesty's Government
Incumbent
Bim Afolami
since 13 November 2023
HM Treasury
AppointerThe British Monarch
on advice of the Prime Minister
Inaugural holderThe Lord Myners
Formation3 October 2008[1]
WebsiteHM Treasury

The position of City Minister is a United Kingdom Government mid-level 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.[2] The only person to have held the office was Lord Myners, who served from October 2008 to May 2010.[3][4]

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.[5]

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.[6]

List of officeholders

Colour key (for political parties):
  Conservative   Labour

City Minister Term of office Political party Prime Minister 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)
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
Zahawi
As Financial Secretary to the Treasury
Andrew Griffith 7 September 2022 27 October 2022 Conservative Truss Kwarteng
Hunt
As Economic Secretary to the Treasury
Andrew Griffith 27 October 2022 13 November 2023 Conservative Sunak Hunt

References

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