The Chief Secretary to the Treasury is a junior position in the British Cabinet. It was created in 1961, to share the burden of representing the treasury with the Chancellor of the Exchequer.
The position's responsibilities include negotiating with departments about budget allocations, public sector pay, welfare reform, and procurement policy.
to be the 74th Secretary of the Treasury on June 19, 2006.
As TreasurySecretary, Paulson is the President's leading policy advisor on a broad range of domestic and international economic issues.
Prior to joining Goldman Sachs, Paulson was a member of the White House Domestic Council, serving as Staff Assistant to the President from 1972 to 1973, and as Staff Assistant to the Assistant Secretary of Defense at the Pentagon from 1970 to 1972.
The Secretary of the Treasury is the principal economic advisor to the President and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the government.
The Secretary is responsible for formulating and recommending domestic and international financial, economic, and tax policy, participating in the formulation of broad fiscal policies that have general significance for the economy, and managing the public debt.
The Secretary oversees the activities of the Department in carrying out its major law enforcement responsibilities; in serving as the financial agent for the United States Government; and in manufacturing coins and currency.
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