Definition of the Treasury from the Oxford Advanced Learner's Dictionary


the Treasury

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the British government department in charge of the country's financial affairs. One of its main responsibilities is deciding how much money should be spent on various aspects of national life, such as education, health care, defence, etc., and providing such money to the appropriate authorities. The department is in Westminster in central London. Three of its senior officials are also members of the Cabinet: the First Lord of the Treasury (which is one of the titles of the Prime Minister), the Chancellor of the Exchequer, who is really the head of the Treasury, and the Chief Secretary to the Treasury.