The Treasury has few friends. Inside government, it is loathed for its arrogance and its meaness. Outside government, it is reviled for its conservatism and incompetence. It has been described as the citadel of British government. That citadel is constantly under siege. Under New Labour, the power of the Treasury is at a new high, but its future remains uncertain. Government depends on its success, yet other government departments and their ministers resent its all-pervasive influence. Blamed for Britain's departure from ERM and possibly undermined by the weakness of Major's government, officials lined the staircase of the Treasury to cheer Gordon Brown into office. The Treasury has to maintain a delicate balance to stay true to its role and traditions, while adpating to its political matters and their team of personal advisors. The relationship between any Chancellor and his Treasury, like the relationship between any Chancellor and the Prime Minister, is both close and tense. This text examines the relationship together with the Treasury's relationship with Parliament. With financial markets increasingly global, it also looks forward to the Treasury's role in a changing political and economic world. The book provides an intimate analysis of the Treasury's past, present and future.