UK Chancellor of the Exchequer, 2007-2010
Banking and the financial crisis
Global economic trends
The UK and European economies
Edinburgh or London, UK
Alistair Darling served as UK Chancellor of the Exchequer from 2007 to 2010, during the most turbulent and far-reaching economic crisis the world had seen for 60 years. He played the key role in prevention of the collapse of the banking system in the UK and in restoring stability to global financial markets.
Alistair Darling became Chief Secretary to the Treasury in Tony Blair’s first cabinet, moving to Work & Pensions, and then taking joint responsibility for the Scotland Office and the Department Of Transport. His final role under Prime Minister Blair was at the helm of Trade & Industry, after which Gordon Brown promoted him to the Treasury.
As Chancellor, Alistair was widely credited with preventing the recession from spiralling into a repeat of the Great Depression. By the time he left office, government borrowing was less than forecast and unemployment and repossessions were both lower than many had anticipated. In January 2016 he joined the board of Morgan Stanley.