politicalbetting.com » Blog Archive » Rishi Sunak – the PB 200/1 tip to be next PM – gets the Chancellor’s job in Boris’s reshuffle
At the end of November Philip Thompson had a guest slot here suggesting that the MP who who took over William Hague’s old seat at Richmond in Yorkshire was a good bet to be the next PM.
If Boris wins the next general election then Sunak would be a strong favourite to succeed him as PM, if he loses though Patel might be a better bet to be leader of the opposition.
Rishi Sunak will make the Cabinet a bit more posh and even more Leave, he went to Winchester College, Lincoln college Oxford and Stanford and backed Leave, Javid went to a comp and Exeter University and backed Remain.
It's a matter of fact that he is more important. Javid didn't win him the election, Cummings did. Common sense would dictate that the latter be more highly valued.
A joint Number Ten and Treasury Spad team is interesting. Either that will apply to all ministers (e.g. all Spads explicitly report to Number Ten) or he’s just made posts like the Foreign and Home Secretaries more senior than the Chancellor, because they will continue to have an independent power base.
Of course we'll have to see how Sunak performs in this top-level role. He does seem to have talent, but this is a hell of a promotion for someone with relatively little experience.
More significant perhaps is the speed with which Boris is burning through his political capital. With Labour showing possible signs of an unexpectedly quick return to sanity, and the multiple difficult problems facing the government, things could get difficult for Boris quite soon.
It was a GREAT tip. Wish I'd done it. If I had, though, I'd be laying back now because "Boris" will sack him if he shows any signs whatsoever of ability.
It's a matter of fact that he is more important. Javid didn't win him the election, Cummings did. Common sense would dictate that the latter be more highly valued.
As long as you don't consider that governing might be a tad different from campaigning.
It was a good tip. Anyone who wants to can now lay off on Betfair for a profit.
Betting question: I placed the bet on Labrokes and got a boost to 250/1 for the bet. Bet £20 @ 250/1 which would be a nice profit to cash out by laying it off, but is there a way to do that?
I'm assuming if you back on Ladbrokes and lay on Betfair then you'd be tying cash up in both markets, right? Is there a way to get the cash out or do you have to wait?
However, if you're currently coming onto this market I would suggest the 14/1 on next Conservative leader currently available on Betfair represents much better value than the 18/1 next PM.
Never had you down as a huge Sajid Javid fan. Let's be honest there were and are better potential Chancellors than him and Hammond. Why not give it to the guy who has impressed in the treasury?
Kudos to the Tories - successive Chancellors from the BAME community.
I fundamentally disagree with a lot of their policies. But they are very good at promoting people based on talent and not race/gender/sexuality
I'll bid you one Priti Patel, a moron.
EDIT: if you change "talent" for "unquestioning loyalty", then I think you'd be spot on.
1. Loyalty is a significant talent in politics 2. Patel - another BAME politician in senior office - is utterly reprehensible from my position. However I hear of lots of new Tory supporters who think she is great. She gives them what they want.
Alok Sharma has been promoted from international development secretary to business secretary. He will also be in charge of the COP26 climate change conference.
Never had you down as a huge Sajid Javid fan. Let's be honest there were and are better potential Chancellors than him and Hammond. Why not give it to the guy who has impressed in the treasury?
To lose your chancellor within two months of election over an adviser, what a basket case!
Will Sunak be a Cummings yes man, or will he last two months?
However, if you're currently coming onto this market I would suggest the 14/1 on next Conservative leader currently available on Betfair represents much better value than the 18/1 next PM.
He's already in to 8.4 as next leader edit/ while I am typing now 8.2
I doubt it will do Boris any immediate harm, but having the PM and Chancellor as effectively the same person has never been done in this country before. A fundamental 'belt-and-braces' arrangement in British politics has been abolished in an instant. This is huge news.
Never had you down as a huge Sajid Javid fan. Let's be honest there were and are better potential Chancellors than him and Hammond. Why not give it to the guy who has impressed in the treasury?
To lose your chancellor within two months of election over an adviser, what a basket case!
Will Sunak be a Cummings yes man, or will he last two months?
You do realise he can now make these changes because he won the election. Now is the best time to make changes.
Never had you down as a huge Sajid Javid fan. Let's be honest there were and are better potential Chancellors than him and Hammond. Why not give it to the guy who has impressed in the treasury?
To lose your chancellor within two months of election over an adviser, what a basket case!
Will Sunak be a Cummings yes man, or will he last two months?
Nah. Rubbish.
I'm all for having a go at Boris if it merits it but this doesn't. He's right to sack Sajid after the HS2 debacle. He has the majority to do what he likes for now.
Sorry folks you're just going to have to suck it up.
However, if you're currently coming onto this market I would suggest the 14/1 on next Conservative leader currently available on Betfair represents much better value than the 18/1 next PM.
I think they're both awful value, it's a good reminder of how bettors overvalue the shiny new thing anyhow. He's a chancellor like Hammond and Javid, not a PM. The last chancellor who probably could have been a serious contender for PM was probably err... Osborne.
It's a matter of fact that he is more important. Javid didn't win him the election, Cummings did. Common sense would dictate that the latter be more highly valued.
As long as you don't consider that governing might be a tad different from campaigning.
For BB., Johnson/Cummings can do absolutely no wrong. Fiscal responsibility? Who needs it, Dom's "war-gamed it"
It could become quite amusing as the next few years unfold.
It's the equivalent of a football manager coming in at Christmas to steady a sinking ship, he's done a great job and now it's the summer he's signed a new 5 year contract and can ship out the deadwood/underperformers and shape the team the way he wants it rather than relying on the previous manager's squad.
I doubt it will do Boris any immediate harm, but having the PM and Chancellor as effectively the same person has never been done in this country before. A fundamental 'belt-and-braces' arrangement in British politics has been abolished in an instant. This is huge news.
Cameron/Osborne begs to differ. They were in lockstep and they did a fantastic job.
However, if you're currently coming onto this market I would suggest the 14/1 on next Conservative leader currently available on Betfair represents much better value than the 18/1 next PM.
I think they're both awful value, it's a good reminder of how bettors overvalue the shiny new thing anyhow. He's a chancellor like Hammond and Javid, not a PM. The last chancellor who probably could have been a serious contender for PM was probably err... Osborne.
I don't agree. His CV is pretty darned impressive. Good early life background, business stock, Head Boy at Winchester, First Class degreee Lincoln College Oxford, Fulbright Scholar and success in the city.
He's the first properly talented Conservative in a generation.
I doubt it will do Boris any immediate harm, but having the PM and Chancellor as effectively the same person has never been done in this country before. A fundamental 'belt-and-braces' arrangement in British politics has been abolished in an instant. This is huge news.
Cameron/Osborne begs to differ. They were in lockstep and they did a fantastic job.
Difference is they like Blair and Brown were a partnership born prior to taking office. The closest thing Boris has had was Gove. Perhaps in 4 or 5 years time Sunak will still be at Number 11.
It's the equivalent of a football manager coming in at Christmas to steady a sinking ship, he's done a great job and now it's the summer he's signed a new 5 year contract and can ship out the deadwood/underperformers and shape the team the way he wants it rather than relying on the previous manager's squad.
It's the equivalent of a football manager coming in at Christmas to steady a sinking ship, he's done a great job and now it's the summer he's signed a new 5 year contract and can ship out the deadwood/underperformers and shape the team the way he wants it rather than relying on the previous manager's squad.
I doubt it will do Boris any immediate harm, but having the PM and Chancellor as effectively the same person has never been done in this country before. A fundamental 'belt-and-braces' arrangement in British politics has been abolished in an instant. This is huge news.
Not really. Churchill was both Prime Minister and Minister of Defence simultaneously. You could get rid of all the Cabinet ministers and Government would continue (and arguably improve in the short term). It's Boris who forms the Government and he can do that how he pleases. As I said recently, the Prime Minister is a really powerful individual.
That's an important judgement coming from a staunch Conservative supporter such as yourself. Don't tell me they've lost your vote?
You lost your chancellor today, that is always a big deal. The fact it wasn't intended makes it more so.
Pretending this is not a big deal and bad news is just silly.
I'm on the Left and I don't think this is 'bad news' at all. Javid screwed up over HS2 and Boris is stamping his authority on Gov't.
Reminds me of Thatcher. Of course people like you and Alastair Meeks will whinge and moan out of bitterness for the whole of the next 5 years.
For those of us who are able to take a step back and be objective, it's fun politics to watch. We haven't seen a PM able to be this decisive since Tony Blair more than a quarter of a century ago.
That's an important judgement coming from a staunch Conservative supporter such as yourself. Don't tell me they've lost your vote?
You lost your chancellor today, that is always a big deal. The fact it wasn't intended makes it more so.
Pretending this is not a big deal and bad news is just silly.
We've replaced a Chancellor at odds with the PM with one who is both in alignment with him and more talented than his predecessor. Our majority is still 80, and Labour is still 163 seats behind us.
Still, Javid can look back to his Chancellorship with pride: he didn't make a single mistake in any of his Budgets. No other ex-Chancellor can say that.
That's an important judgement coming from a staunch Conservative supporter such as yourself. Don't tell me they've lost your vote?
You lost your chancellor today, that is always a big deal. The fact it wasn't intended makes it more so.
Pretending this is not a big deal and bad news is just silly.
We've replaced a Chancellor at odds with the PM with one who is both in alignment with him and more talented than his predecessor. Our majority is still 80, and Labour is still 163 seats behind us.
I wish all our losses were this bad!
I'm afraid some of my colleagues on the Left are still in denial
Still, Javid can look back to his Chancellorship with pride: he didn't make a single mistake in any of his Budgets. No other ex-Chancellor can say that.
Is he the first chancellor never to deliver a budget ?
I'd have backed Sunak for Chancellor but I thought the payoff could be a decade away ! I'd underestimated how fast things can happen in this Gov't - clearly.
I'm not sure that being seen as the tea boy will be conducive to Rishi Sunak's leadership prospects. He's evidently not going to be allowed to have opinions.
That's an important judgement coming from a staunch Conservative supporter such as yourself. Don't tell me they've lost your vote?
You lost your chancellor today, that is always a big deal. The fact it wasn't intended makes it more so.
Pretending this is not a big deal and bad news is just silly.
We've replaced a Chancellor at odds with the PM with one who is both in alignment with him and more talented than his predecessor. Our majority is still 80, and Labour is still 163 seats behind us.
I wish all our losses were this bad!
These changes can have big impacts. Obviously the circumstances were different, but the implications of when Macleod gave way to Barber were huge.
That's an important judgement coming from a staunch Conservative supporter such as yourself. Don't tell me they've lost your vote?
You lost your chancellor today, that is always a big deal. The fact it wasn't intended makes it more so.
Pretending this is not a big deal and bad news is just silly.
Who's claiming it wasn't intended?
Indeed. Of course it was. Javid's card was marked with his HS2 screw up. I think Cummings and Johnson have played a blinder.
Blair lacked the balls to sack Brown and by the end it was a devastating mistake to leave Brown in place.
I don't think Javid is Brown but having the PM and Chancellor be in alignment makes sense.
Let's not forget the official title of the Prime Minister that is on the door to Number 10 Downing Street. Having the Treasury and PM at odds is not healthy.
I doubt it will do Boris any immediate harm, but having the PM and Chancellor as effectively the same person has never been done in this country before. A fundamental 'belt-and-braces' arrangement in British politics has been abolished in an instant. This is huge news.
Not really. Churchill was both Prime Minister and Minister of Defence simultaneously. You could get rid of all the Cabinet ministers and Government would continue (and arguably improve in the short term). It's Boris who forms the Government and he can do that how he pleases. As I said recently, the Prime Minister is a really powerful individual.
The main issue here is time - there literally aren't enough hours in the day for one person to attend to everything important properly. Either they rely on good people around them to do it (and up to now there's been a theory that this was Boris's style) or they get into can-kicking for everything they don't have time for, or they make half-baked decisions. Option 1 is generally preferred for effective government.
Still, Javid can look back to his Chancellorship with pride: he didn't make a single mistake in any of his Budgets. No other ex-Chancellor can say that.
The curious question is why did Boris appoint him in the first place? Surely The Saj is no more obviously useless now than he was a few months ago. Was Boris just being lazy and unthinking back then. Was he always planning to humiliate the man? Weird.
A joint Number Ten and Treasury Spad team is interesting. Either that will apply to all ministers (e.g. all Spads explicitly report to Number Ten) or he’s just made posts like the Foreign and Home Secretaries more senior than the Chancellor, because they will continue to have an independent power base.
If the former, than that’s a massive change.
Remember those happy days when Gordon Brown wouldn't even tell Blair what was in the budget?
That's an important judgement coming from a staunch Conservative supporter such as yourself. Don't tell me they've lost your vote?
You lost your chancellor today, that is always a big deal. The fact it wasn't intended makes it more so.
Pretending this is not a big deal and bad news is just silly.
I'm on the Left and I don't think this is 'bad news' at all. Javid screwed up over HS2 and Boris is stamping his authority on Gov't.
Reminds me of Thatcher. Of course people like you and Alastair Meeks will whinge and moan out of bitterness for the whole of the next 5 years.
For those of us who are able to take a step back and be objective, it's fun politics to watch. We haven't seen a PM able to be this decisive since Tony Blair more than a quarter of a century ago.
Guess that's why it shocks some people.
How am I whinging or moaning? Just remarking the fact that if the government loses it's Chancellor after just two months, things might not be quite 100% tickety-boo.
I don't agree. His CV is pretty darned impressive. Good early life background, business stock, Head Boy at Winchester, First Class degreee Lincoln College Oxford, Fulbright Scholar and success in the city.
He's the first properly talented Conservative in a generation.
Mmm, that is one talented Oxbridge PPE public schoolboy City Hedge Fund manager right there.
I'm not sure that being seen as the tea boy will be conducive to Rishi Sunak's leadership prospects. He's evidently not going to be allowed to have opinions.
Oh look, Alastair can't resist a snide and derogatory comment.
I'm not sure that being seen as the tea boy will be conducive to Rishi Sunak's leadership prospects. He's evidently not going to be allowed to have opinions.
I'm too young to remember, but was the same said of Major when he got the job?
However, if you're currently coming onto this market I would suggest the 14/1 on next Conservative leader currently available on Betfair represents much better value than the 18/1 next PM.
I think they're both awful value, it's a good reminder of how bettors overvalue the shiny new thing anyhow. He's a chancellor like Hammond and Javid, not a PM. The last chancellor who probably could have been a serious contender for PM was probably err... Osborne.
I don't agree. His CV is pretty darned impressive. Good early life background, business stock, Head Boy at Winchester, First Class degreee Lincoln College Oxford, Fulbright Scholar and success in the city.
He's the first properly talented Conservative in a generation.
I'm not sure that being seen as the tea boy will be conducive to Rishi Sunak's leadership prospects. He's evidently not going to be allowed to have opinions.
I'm too young to remember, but was the same said of Major when he got the job?
I doubt it will do Boris any immediate harm, but having the PM and Chancellor as effectively the same person has never been done in this country before. A fundamental 'belt-and-braces' arrangement in British politics has been abolished in an instant. This is huge news.
Not really. Churchill was both Prime Minister and Minister of Defence simultaneously. You could get rid of all the Cabinet ministers and Government would continue (and arguably improve in the short term). It's Boris who forms the Government and he can do that how he pleases. As I said recently, the Prime Minister is a really powerful individual.
The main issue here is time - there literally aren't enough hours in the day for one person to attend to everything important properly. Either they rely on good people around them to do it (and up to now there's been a theory that this was Boris's style) or they get into can-kicking for everything they don't have time for, or they make half-baked decisions. Option 1 is generally preferred for effective government.
Suank is a good person. You want to rely upon good people yes, but you need to rely upon those good people to be pulling in the same direction as you want them to do so.
The PM is First Lord of the Treasury. I don't see why it is shocking that SPADs could be jointly co-ordinated between the First Lord of the Treasury and the Chancellor of the Exchequer.
I'm not sure that being seen as the tea boy will be conducive to Rishi Sunak's leadership prospects. He's evidently not going to be allowed to have opinions.
I'm too young to remember, but was the same said of Major when he got the job?
I'm not sure that being seen as the tea boy will be conducive to Rishi Sunak's leadership prospects. He's evidently not going to be allowed to have opinions.
Oh look, Alastair can't resist a snide and derogatory comment.
Rishi is a highly talented individual.
A highly talented individual who is not going to be allowed to have opinions. Number 10 has decided it is going to take over the Treasury.
I'm not sure that being seen as the tea boy will be conducive to Rishi Sunak's leadership prospects. He's evidently not going to be allowed to have opinions.
Oh look, Alastair can't resist a snide and derogatory comment.
Rishi is a highly talented individual.
A highly talented individual who is not going to be allowed to have opinions. Number 10 has decided it is going to take over the Treasury.
Why shouldn't the First Lord of the Treasury be responsible for the Treasury?
Still, Javid can look back to his Chancellorship with pride: he didn't make a single mistake in any of his Budgets. No other ex-Chancellor can say that.
The curious question is why did Boris appoint him in the first place? Surely The Saj is no more obviously useless now than he was a few months ago. Was Boris just being lazy and unthinking back then. Was he always planning to humiliate the man? Weird.
Wasn't it party unity as Saj was one of the contenders to take over from TM
I'm not sure that being seen as the tea boy will be conducive to Rishi Sunak's leadership prospects. He's evidently not going to be allowed to have opinions.
Oh look, Alastair can't resist a snide and derogatory comment.
Rishi is a highly talented individual.
A highly talented individual who is not going to be allowed to have opinions. Number 10 has decided it is going to take over the Treasury.
Why shouldn't the First Lord of the Treasury be responsible for the Treasury?
Sorry about Julian Smith though. He was one of the very few competents in Johnson's cabinet. It was why he was sacked, it seems.
Erm I'm sorry but he really wasn't. Julian may be a decent bloke but if you ask anyone close to the events he had terrible people skills, not only routinely forgetting people's names but an incapacity to engage with people in any social skills sense. Quite extraordinary in a Chief Whip. Less damaging in a NI Secretary. But, really, not up to the level Johnson-Cummings now want.
My thoughts on this It was a great bet at 250-1 ! 15-2 looks like a hideous price right now Being Chancellor is a very distinguished job. His academic results show that he clearly has brains. However, he simply doesn't strike me as a PM.
Kudos to the Tories - successive Chancellors from the BAME community.
I fundamentally disagree with a lot of their policies. But they are very good at promoting people based on talent and not race/gender/sexuality
I'll bid you one Priti Patel, a moron.
EDIT: if you change "talent" for "unquestioning loyalty", then I think you'd be spot on.
1. Loyalty is a significant talent in politics 2. Patel - another BAME politician in senior office - is utterly reprehensible from my position. However I hear of lots of new Tory supporters who think she is great. She gives them what they want.
On point 2, of course she does. Compare and contrast with the wibble uttered by Diane Abbott who would have been holding that office if we'd have won.
I'm not sure that being seen as the tea boy will be conducive to Rishi Sunak's leadership prospects. He's evidently not going to be allowed to have opinions.
Oh look, Alastair can't resist a snide and derogatory comment.
Rishi is a highly talented individual.
A highly talented individual who is not going to be allowed to have opinions. Number 10 has decided it is going to take over the Treasury.
Why shouldn't the First Lord of the Treasury be responsible for the Treasury?
So juvenile.
Not really. Its a serious point.
The Treasury is so powerful because it funds everything the government does. The First Lord of the Treasury became the Prime Minister for a reason and go back far enough and the First Lord of the Treasury had the same role as what we call the Chancellor today.
The two co-ordinating together seems to me to be common sense.
I doubt it will do Boris any immediate harm, but having the PM and Chancellor as effectively the same person has never been done in this country before. A fundamental 'belt-and-braces' arrangement in British politics has been abolished in an instant. This is huge news.
Not really. Churchill was both Prime Minister and Minister of Defence simultaneously. You could get rid of all the Cabinet ministers and Government would continue (and arguably improve in the short term). It's Boris who forms the Government and he can do that how he pleases. As I said recently, the Prime Minister is a really powerful individual.
The main issue here is time - there literally aren't enough hours in the day for one person to attend to everything important properly. Either they rely on good people around them to do it (and up to now there's been a theory that this was Boris's style) or they get into can-kicking for everything they don't have time for, or they make half-baked decisions. Option 1 is generally preferred for effective government.
Suank is a good person. You want to rely upon good people yes, but you need to rely upon those good people to be pulling in the same direction as you want them to do so.
The PM is First Lord of the Treasury. I don't see why it is shocking that SPADs could be jointly co-ordinated between the First Lord of the Treasury and the Chancellor of the Exchequer.
The problem with this is that Boris has a junior yes man in no 11. There is no beast around the cabinet table with the authority to challenge bad decisions or ideas from the mind of Cummings.
Comments
Rishi Sunak will make the Cabinet a bit more posh and even more Leave, he went to Winchester College, Lincoln college Oxford and Stanford and backed Leave, Javid went to a comp and Exeter University and backed Remain.
Yorkshire's Rishi Sunak confirmed as next Chancellor after Sajid Javid resigns
https://www.yorkshirepost.co.uk/news/politics/yorkshire-s-rishi-sunak-confirmed-as-next-chancellor-after-sajid-javid-resigns-1-10254885
If the former, than that’s a massive change.
He must be the youngest CoE since?????
Edit: just noticed-probably Osborne!
I fundamentally disagree with a lot of their policies. But they are very good at promoting people based on talent and not race/gender/sexuality
For reasons which may become apparent in short order (nothing to do with next PM).
Of course we'll have to see how Sunak performs in this top-level role. He does seem to have talent, but this is a hell of a promotion for someone with relatively little experience.
More significant perhaps is the speed with which Boris is burning through his political capital. With Labour showing possible signs of an unexpectedly quick return to sanity, and the multiple difficult problems facing the government, things could get difficult for Boris quite soon.
Back him next chancellor in 15 years time
My record on chancellors is decent
EDIT: if you change "talent" for "unquestioning loyalty", then I think you'd be spot on.
I'm assuming if you back on Ladbrokes and lay on Betfair then you'd be tying cash up in both markets, right? Is there a way to get the cash out or do you have to wait?
What a basket case.
However, if you're currently coming onto this market I would suggest the 14/1 on next Conservative leader currently available on Betfair represents much better value than the 18/1 next PM.
2. Patel - another BAME politician in senior office - is utterly reprehensible from my position. However I hear of lots of new Tory supporters who think she is great. She gives them what they want.
We are entering uncharted territory.
Will Sunak be a Cummings yes man, or will he last two months?
https://twitter.com/NYDailyNews/status/1227687852579971072
Pretty impressive CV I have to say.
I'm all for having a go at Boris if it merits it but this doesn't. He's right to sack Sajid after the HS2 debacle. He has the majority to do what he likes for now.
Sorry folks you're just going to have to suck it up.
He's a chancellor like Hammond and Javid, not a PM. The last chancellor who probably could have been a serious contender for PM was probably err... Osborne.
It could become quite amusing as the next few years unfold.
He's the first properly talented Conservative in a generation.
Pretending this is not a big deal and bad news is just silly.
Sunak is Van Dijk
Starmer is Ole Gunnar Solskjaer
London coronavirus patient turned up at hospital in Uber taxi
https://www.theguardian.com/world/2020/feb/13/london-coronavirus-patient-turned-up-hospital-uber-taxi?CMP=Share_iOSApp_Other
Reminds me of Thatcher. Of course people like you and Alastair Meeks will whinge and moan out of bitterness for the whole of the next 5 years.
For those of us who are able to take a step back and be objective, it's fun politics to watch. We haven't seen a PM able to be this decisive since Tony Blair more than a quarter of a century ago.
Guess that's why it shocks some people.
I wish all our losses were this bad!
I'd have backed Sunak for Chancellor but I thought the payoff could be a decade away !
I'd underestimated how fast things can happen in this Gov't - clearly.
I don't think Javid is Brown but having the PM and Chancellor be in alignment makes sense.
Let's not forget the official title of the Prime Minister that is on the door to Number 10 Downing Street. Having the Treasury and PM at odds is not healthy.
Rishi is a highly talented individual.
And Rishi is 1000x more talented than John Major.
The PM is First Lord of the Treasury. I don't see why it is shocking that SPADs could be jointly co-ordinated between the First Lord of the Treasury and the Chancellor of the Exchequer.
And great tip by Philip.
Javid has a right to feel aggrieved. He sold what passes for his soul to keep his job for it to come to naught.
Sorry about Julian Smith though. He was one of the very few competents in Johnson's cabinet. It was why he was sacked, it seems.
It was a great bet at 250-1 !
15-2 looks like a hideous price right now
Being Chancellor is a very distinguished job. His academic results show that he clearly has brains.
However, he simply doesn't strike me as a PM.
The Treasury is so powerful because it funds everything the government does. The First Lord of the Treasury became the Prime Minister for a reason and go back far enough and the First Lord of the Treasury had the same role as what we call the Chancellor today.
The two co-ordinating together seems to me to be common sense.