The Treasury is the UK government's ministry for economics and finance, responsible for making and carrying out the government's financial and economic policy.
Its goals are sustainable economic growth, increasing prosperity and a better quality of life with economic and employment opportunities for all.
The Treasury is responsible for setting the level of taxes paid by people in the UK. Each year the chancellor, the minister responsible for the Treasury, sets out his tax and spending plans – typically for the year after next – in the Budget. This is then voted on by parliament before becoming law.