I watched a very interesting programme on the BBC4 channel late last night about the Treasury, its role, its incumbents, its style of working etc. Many fascinating interviews and insights from Callaghan, Howe, Thatcher, Lawson, Clarke, Brown, Healy, Lamont, Gus O'Donnell the current PermSec, and current Chancellor Alistair Darling, plus a plethora of other senior members covering a 40 year span.
I got the distinct impression from the programme that there was little doubt Ken Clarke was the best Chancellor when it came to fiscal matters, but for updating the institution dear old Gordie was head and shoulders above the rest put together.
Also interesting was the analysis of failed relations between the PM and Chancellor which, in every case precipitated a financial disaster of some kind (usually devaluation in the case of Labour Governments or City crisis for the Tories), but mostly all ending in disaster at the next General Election for the Government.
The programme cn still be watched/downloaded from BBI iPlayer:
http://www.bbc.co.uk/iplayer/episode/b00r0sf5/The_Great_Offices_of_State_The_Secret_Treasury/
and I strongly recommend watching it. A great insight into one the major institutions of our country.