Her Majesty's (HM) Treasury
Categories: Banking, International
Here in the States, we have the United States Department of the Treasury. We usually just call it the U.S. Treasury. Across the pond, the UK has Her Majesty’s Treasury, which they usually just call HM Treasury or, simply, the Treasury.
Her Majesty’s Treasury is responsible for collecting taxes, developing economic and fiscal policy, and basically serving as the UK’s accountant, financial advisor, and economic assessor. Unlike the U.S. Treasury, HM Treasury does not print money...that honor belongs to the Bank of England.
Fun fact: Prince Charles is next-in-line to the throne, should Queen Elizabeth retire, step down, or pass away. If he or Prince William, who’s next in line after him, take over, Her Majesty’s Treasury will become His Majesty’s Treasury. And they don’t even have to change the acronym.