Reginald McKenna (1863-1943), Liberal MP for North Monmouthshire, enters the newly formed government of Sir Henry Campbell-Bannerman as Financial Secretary to the Treasury. McKenna joined the Cabinet in 1907 as President of the Board of Education and went on to hold other senior Cabinet posts under H.H. Asquith including First Lord of the Admiralty and Home Secretary, eventually succeeding Lloyd George as Chancellor of the Exchequer in the wartime coalition.