- published: 27 Jan 2016
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A treasury is either
The term was first used in Classical times to describe the votive buildings erected to house gifts to the gods, such as the Siphnian Treasury in Delphi or many similar buildings erected in Olympia, Greece by competing city-states to impress others during the ancient Olympic Games. In Ancient Greece treasuries were almost always physically incorporated within religious buildings such as temples, thus making state funds sacrosanct and adding moral constraints to the penal ones to those who would have access to these funds.
The head of a treasury is typically known as a treasurer. This position may not necessarily have the final control over the actions of the treasury, particularly if they are not an elected representative.
The adjective for a treasury is normally "treasurial". The adjective "tresorial" can also be used, but this normally means pertaining to a treasurer.
In the United Kingdom, Her Majesty's Treasury is overseen by the Chancellor of the Exchequer. The traditional honorary title of First Lord of the Treasury is held by the Prime Minister. Her Majesty's Revenue and Customs administers the taxation system.
George Gideon Oliver Osborne,MP (born 23 May 1971 in Paddington, London) is a British Conservative politician. He is the Chancellor of the Exchequer of the United Kingdom, a role to which he was appointed in May 2010, and has been the Member of Parliament for Tatton since 2001.
Osborne is part of the old Anglo-Irish aristocracy, known in Ireland as the Ascendancy. He is the heir to the Osborne baronetcy (of Ballentaylor, in County Tipperary, and Ballylemon, in County Waterford).
He was educated at St Paul's School and Magdalen College, University of Oxford, before entering politics.
Osborne is the eldest of four sons. His father, Sir Peter Osborne, 17th Baronet, co-founded the firm of fabric and wallpapers designers Osborne & Little. His mother is Felicity Alexandra Loxton-Peacock, the daughter of artist Lady Clarisse Loxton Peacock.
Originally named Gideon Oliver, he changed his name to George when he was 13. In an interview in July 2005, Osborne said: "It was my small act of rebellion. I never liked it. When I finally told my mother she said, 'Nor do I'. So I decided to be George after my grandfather, who was a war hero. Life was easier as a George; it was a straightforward name."