| Post: | Shadow Chancellor of the Exchequer |
| Incumbent: | Jeremy Hunt |
| Incumbentsince: | 8 July 2024 |
| Style: | Shadow Chancellor (informal) |
| Member Of: | Official Opposition Shadow Cabinet |
| Appointer: | Leader of the Opposition |
| Inaugural: | Rab Butler |
The shadow chancellor of the exchequer in the British Parliamentary system is the member of the Shadow Cabinet who is responsible for shadowing the chancellor of the exchequer. The title is given at the gift of the leader of the Opposition and has no formal constitutional role, but is generally considered the second-most senior position, unless a shadow deputy prime minister is chosen, on the opposition frontbench, after the leader. Past shadow chancellors include Harold Wilson, James Callaghan, Edward Heath, Geoffrey Howe, Kenneth Clarke, Gordon Brown, John McDonnell and Rachel Reeves.
The name for the position has a mixed history. It is used to designate the lead economic spokesman for the Opposition. The name 'Shadow Chancellor' has also been used for the corresponding position for the Liberal Democrats, the Liberal Democrat Treasury spokesperson.[1] This was a source of humour for Chancellor Gordon Brown, who in 2005 played the two off against one another in Parliament, saying, "I, too, have a great deal of time for the shadow chancellor who resides in Twickenham [Liberal Democrat [[Vince Cable]]], rather than the shadow chancellor for the Conservative Party."[2]
| Name | Portrait | Term of office | Party | Shadow Cabinet | |||||
|---|---|---|---|---|---|---|---|---|---|
| Rab Butler | 10 December 1950 | 26 October 1951 | Conservative | ||||||
| Hugh Gaitskell | 26 October 1951 | 14 December 1955 | Labour | Attlee | |||||
| Harold Wilson | 14 December 1955 | 2 November 1961 | Gaitskell | ||||||
| James Callaghan | 2 November 1961 | 15 October 1964 | |||||||
| Wilson I | |||||||||
| Reginald Maudling | 15 October 1964 | 16 February 1965[3] | Conservative | Douglas-Home | |||||
| Edward Heath | 16 February 1965[4] | 11 November 1965 | Heath I | ||||||
| Iain Macleod | 11 November 1965 | 20 June 1970 | |||||||
| Roy Jenkins | 20 June 1970 | 19 April 1972 | Labour | Wilson II | |||||
| Denis Healey | 19 April 1972 | 4 March 1974 | |||||||
| Robert Carr | 4 March 1974 | 11 February 1975 | Conservative | Heath II | |||||
| Sir Geoffrey Howe | 11 February 1975 | 4 May 1979 | Thatcher | ||||||
| Denis Healey | 4 May 1979 | 8 December 1980 | Labour | Callaghan | |||||
| Peter Shore | 8 December 1980 | 31 October 1983 | Foot | ||||||
| Roy Hattersley | 31 October 1983 | 13 July 1987 | Kinnock | ||||||
| John Smith | 13 July 1987 | 24 July 1992 | |||||||
| Gordon Brown | 24 July 1992 | 2 May 1997 | Smith | ||||||
| Beckett | |||||||||
| Blair | |||||||||
| Ken Clarke | 2 May 1997 | 11 June 1997 | Conservative | Major | |||||
| Peter Lilley | 11 June 1997 | 2 June 1998 | Hague | ||||||
| Francis Maude | 2 June 1998 | 1 February 2000 | |||||||
| Michael Portillo | 1 February 2000 | nowrap | 18 September 2001 | ||||||
| Michael Howard | nowrap | 18 September 2001 | 6 November 2003 | Duncan Smith | |||||
| Oliver Letwin | 6 November 2003 | 10 May 2005 | Howard | ||||||
| George Osborne | 10 May 2005 | 11 May 2010 | |||||||
| Cameron | |||||||||
| Alistair Darling | 11 May 2010 | 8 October 2010 | Labour | Harman I | |||||
| Alan Johnson | 8 October 2010 | 20 January 2011 | Miliband | ||||||
| Ed Balls | 20 January 2011 | 11 May 2015 | |||||||
| Chris Leslie | 11 May 2015 | 12 September 2015 | Harman II | ||||||
| John McDonnell | 13 September 2015 | 5 April 2020 | Corbyn | ||||||
| Anneliese Dodds | 5 April 2020 | 9 May 2021 | Starmer | ||||||
| Rachel Reeves | 9 May 2021 | 5 July 2024 | |||||||
| Jeremy Hunt | 8 July 2024 | Incumbent | Conservative | Sunak | |||||