The ideal Chew–Goldberger–Low (CGL) plasma equations, including the double adiabatic conservation laws for the parallel (
$p_\parallel$
) and perpendicular pressure (
$p_\perp$
), are investigated using a Lagrangian variational principle. An Euler–Poincaré variational principle is developed and the non-canonical Poisson bracket is obtained, in which the non-canonical variables consist of the mass flux
${\boldsymbol {M}}$
, the density
$\rho$
, the entropy variable
$\sigma =\rho S$
and the magnetic induction
${\boldsymbol {B}}$
. Conservation laws of the CGL plasma equations are derived via Noether's theorem. The Galilean group leads to conservation of energy, momentum, centre of mass and angular momentum. Cross-helicity conservation arises from a fluid relabelling symmetry, and is local or non-local depending on whether the gradient of
$S$
is perpendicular to
${\boldsymbol {B}}$
or otherwise. The point Lie symmetries of the CGL system are shown to comprise the Galilean transformations and scalings.