From Longman Business Dictionary
Chancellor of the ExchequerChan·cel·lor of the Ex·cheq·uer /ˌtʃɑːnsələr əv ði ɪksˈtʃekəˌtʃænsələr əv ði ɪksˈtʃekər/ (also Chancellor) noun (plural Chancellors of the Exchequer) [countableC usually singular] ECONOMICSJOBthe British government minister in charge of deciding levels of taxes and government spendingIn his autumn statement, the Chancellor of the Exchequer was forecasting an economic upturn.