City Minister

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.

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[1]
Website	HM 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
		Bim Afolami	13 November 2023	5 July 2024	Conservative
		Tulip Siddiq	9 July 2024	Incumbent	Labour		Starmer	Reeves

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.