Chancellorship \Chan"cel*lor*ship\ (ch[.a]n"s[e^]l*l[~e]r*sh[i^]p), n. The office of a chancellor; the time during which one is chancellor.
Sir Terence was more cryptic. If he felt discomfort in the latter years of Mr Nigel Lawson's chancellorship, he hardly showed it.
Mr. Lafontaine is expected to be elected vice chairman of the opposition Social Democrats Sunday, a move that could propel him into the chancellorship.