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President of the Board of Trade

From Wikipedia, the free encyclopedia

United Kingdom
President of the Board of Trade
Royal Coat of Arms of the United Kingdom (HM Government).svg
Royal Arms as used by Her Majesty's Government
Elizabeth Truss

since 24 July 2019
Board of Trade
StyleThe Right Honourable
(Formal prefix)
President of the Board of Trade
Member ofBritish Cabinet
Privy Council
Reports toThe Prime Minister
SeatWestminster, London
AppointerThe British Monarch
on advice of the Prime Minister
Term lengthNo fixed term

The President of the Board of Trade is head of the Board of Trade. This is a committee of the Privy Council of the United Kingdom, first established as a temporary committee of inquiry in the 17th century, that evolved gradually into a government department with a diverse range of functions.[1] The current holder is Elizabeth Truss, the Secretary of State for International Trade.

YouTube Encyclopedic

  • 1/2
    2 727
  • ✪ University of Toronto: President Meric Gertler at the Toronto Region Board of Trade
  • ✪ Harold Wilson (1947)


Good afternoon -- thank you Carol for a lovely introduction. I am delighted to be here, and thrilled at the wonderful turnout. Thanks to the many U of T friends and alumni here today for such a gratifying response. There are some advantages to leading Canada's largest university! When we agreed on a date for this address, we had no idea how interesting the political landscape would look... with two election campaigns and federal byelections now underway. Readers of the Globe and Mail might well be wondering about my own aspirations... Let me reassure you that I am not planning to run for office! So why am I here today? I am here, first and foremost, as a long-time and passionate Torontonian. I have built my career and raised a family here, and I care deeply about Toronto's future. I know many of the people in this room today, and I know that we are all committed citizens who care passionately about this remarkable region. And I would guess we all want the same things: A city that is economically dynamic and prosperous. A city that is open; that welcomes diverse newcomers and provides them with opportunities to contribute their talents to our collective wellbeing. Safe and livable neighbourhoods with great schools, parks and lively commercial life. A vibrant cultural milieu that reflects the diverse composition of our population, and a sustainable city, with well-planned and efficient public infrastructure to support our collective prosperity. So we are all in this together. We are indeed fortunate to live in one of the world's truly great city-regions. Our economy is booming, we receive tens of thousands of new immigrants from abroad every year, our cultural life is thriving, and we regularly appear on the lists of the world's most livable cities. And yet, newcomers to our city face significant obstacles securing employment that matches their qualifications. Income polarization is growing and becoming entrenched. Decisions around badly needed investments in transportation infrastructure have been driven less by evidence and analysis, and more by retail politics. Our public education system, from kindergarten through university -- probably our single most important piece of social infrastructure -- is under major strain. Much of Southern Ontario is still struggling to regain its past economic vibrancy. And though the GTA economy is thriving, increasingly intense competition from abroad requires us all to be more innovative, productive and entrepreneurial. So while we are blessed to be living and working in this great place, we cannot afford to be complacent. We are in real danger of failing to meet significant challenges, and of squandering important opportunities. We need to pull together like never before. This is the backdrop, the context, against which I would like to situate my observations -- in the remainder of this talk -- about the 'University and the City' I want to spend the next 20 minutes or so making the case that the partnership between universities and the Toronto region is crucially important -- and often misunderstood. I also want to present the case for why it makes sense to grow and deepen this partnership, for the mutual benefit of both the University and the city, and talk about some ways to achieve this. One of the reasons I was so excited to take on the Presidency of U of T is that I have focused much of my academic career on studying the economies of urban regions, and the role that major institutions such as research universities play in their development. Now, as President of Canada's largest and (with apologies to other presidents in the room) most globally respected university, I have the opportunity to put some of those ideas into practice. My starting point is that the relationship between universities and their host regions is fundamentally symbiotic. It is mutually enriching, along multiple dimensions. Simply put, a strong university helps build a strong city, and a strong city helps build a strong university. We need to leverage this relationship to mutual advantage if we are going to advance our shared prosperity. Let me elaborate. While I will use the case I know best -- for obvious reasons -- U of T and Toronto are simply exemplars of a world-class, research-intensive university on the one hand and a major global city-region on the other. What goes for Toronto and a university like the one I have the privilege to lead also goes for other leading regions and universities around the globe: from Boston to Beijing, from San Francisco to São Paulo. Let me begin by outlining three key messages. 1. Universities impart dynamism and resilience to the economies of urban regions, helping their host cities to reinvent themselves over time. 2. At the same time, universities are tremendously important stabilizing forces on urban economies, and on the local neighbourhoods they inhabit. 3. Universities like the University of Toronto connect their host regions to the world, and vice versa A fourth key message -- a bonus message if you like, for extra credit -- will be woven throughout these remarks. That is: U of T gains as much from its association with Toronto as it contributes. Indeed, our fates are intimately intertwined! Dynamism and resilience Let me begin with my first key message: Universities are a vitally important source of dynamism and resilience... As everyone knows, universities are research performers. This is especially true of the University of Toronto... and the scale is staggering: In 2011-12, the University of Toronto and its affiliated hospitals carried out $1.2B in funded research. That is roughly equal to the entire operating budgets of nine of our sister universities in Ontario -- combined. While much of that $1.2B came from federal and provincial research councils, about a quarter-billion dollars arose from collaboration with industrial, institutional, and not-for-profit partners, including local businesses large and small, and community-based organizations. Moreover, this kind of partner-based research frequently leads to new research insights, both fundamental and applied. So when local research partners work with the university, our faculty and students are both the providers of new ideas, and the beneficiaries. In addition, much of the research conducted within an institution like U of T ultimately finds its way into the marketplace through a variety of channels, as measured by technology licensing agreements, patents, start-ups, and other markers of commercialization. At the same time, you will all recognize that educating human capital -- or embodied knowledge -- represents the University's single biggest contribution to Toronto, Ontario, and Canada: our most important form of 'technology transfer'. 16,500 students graduated from the University of Toronto in 2012-13. Recent statistics tell us that 82% of them were employed within six months and 90% were employed within two years. And the majority of these jobs were in the Toronto region. These days, with youth unemployment so high, these figures are reassuring. Toronto is a terrific place to build a career in nearly any field, and employers in this region clearly benefit from the supply of well-educated graduates flowing from its universities and colleges. As we all know, successive waves of immigrants moving to Toronto for economic opportunities and social-political stability have helped create the world's most multicultural region -- where half of those living here were born outside of Canada. These new Canadians bring talent, ideas, and drive to Toronto, transforming our city in profound ways. Not surprisingly, the composition of the world's most multicultural city is reflected in the enrolment of its universities and colleges. Today, well over half of U of T's students self-identify as a 'visible minority'. Nearly half of our students receive needs-based financial aid, and one in six is the first in their family to attend university. Our collective investment in educating these students is more than justified by the large private and social returns generated by this investment. Today's students are tomorrow's leaders and knowledge workers: fully 68% of the Toronto region's population between the ages of 25 and 65 has some kind of post-secondary education credential. This is a huge advantage in today's knowledge economy, and has provided the wherewithal for our city to reinvent itself continually over time. Indeed, Toronto has reinvented itself continually over the course of its history. That's Bay and Richmond, circa 1913. We've gone from trading post, textiles and tanning, to farm implements and food processing, and more recently to finance, pharma, film-making and artisanal foods. Toronto is not unique, but its resilience over time is anything but universal. Where does such resilience come from? One can certainly thank the resourcefulness and risk-taking culture of recent and past immigrants to this city. But there are other forces at work as well. Consider that Bethlehem, Pennsylvania was once the second largest steel producer in the United States after Pittsburgh. But while Pittsburgh has flourished, Bethlehem has struggled following the near-collapse of the steel industry. Why? The ability of places like Pittsburgh to reinvent themselves can be explained in large part by the local impact of the University of Pittsburgh, Carnegie Mellon University, Duquesne, and some 35 other universities and colleges in the Pittsburgh region. City-regions like Boston, San Francisco, Raleigh and Austin have similarly benefited from the influence of MIT, Harvard, Stanford, UCSF, Berkeley, UNCChapel Hill, Duke, and the University of Texas at Austin. Toronto too has benefited from the propulsive effect of its universities and colleges, whose graduates have been the backbone of an educated, diversified, and highly creative workforce for years. Moreover, faculty and students have actively created companies, jobs, and even entirely new industries. Indeed, this is the very essence of resilience and reinvention. The University of Toronto, it turns out, is spectacularly good at this. From 2008-09 to 2010-11, U of T anchored the fastest growing entrepreneurial hub among all major North America institutions... And in the last three years, our academic community created more start-up companies than any other North American university. Ahead of MIT, Carnegie Mellon, Caltech, Harvard and others. Certainly, much of this success is due to the remarkable students, faculty, and staff on our three campuses. But we must also give credit to the very special region in which we are situated. The truth is that you cannot plunk a university just anywhere and expect it to trigger the formation of a local innovation cluster. The Toronto region's success as an emerging innovation and entrepreneurship powerhouse rests equally on its tremendous multi-sectoral, convergent strength. This unusually diverse economic base provides a powerful spark for innovation and entrepreneurship, drawing on a rich environment of specialized suppliers and services. New ventures of all sorts depend heavily upon local strengths in marketing, design, advertising, IT services, product development and testing, IP lawyers, management, packaging, logistics ... and more. Toronto is Canada's leader in all of these areas. The recent explosion of entrepreneurial activity at U of T has been fostered by initiatives like the Engineering Hatchery, the Rotman School's Creative Destruction Lab, the Impact Centre in the Faculty of Arts & Science, and the Institute for Management & Innovation at our Mississauga campus. We are now at the core of an evolving ecosystem of entrepreneurship and innovation-nurturing institutions, including our partner research hospitals, the MaRS Discovery District, Ryerson's DMZ, and other players. So, to summarize my first point, universities drive the dynamism and resilience of urban regions, but they rely on a symbiotic relationship with the city-region in order to make this work. At the same time, universities are tremendously important stabilizing forces within urban economies, and within their local neighbourhoods. This is my second takeaway message. Let me describe U of T's stabilizing presence within the Toronto region. First and most obviously, our sheer size generates substantial economic impact within the region. We host more than 80,000 students on three campuses -- more than any other university in Canada or the United States. U of T is also a major employer in the city, with 16,000 employees. In fact, U of T directly employs more people on its three campuses than Chrysler and GM employ in all of Canada -- combined. I wonder how many local policy makers realize this. And we offer very good jobs. Indeed, we win 'Top Employer' honours within the region year after year. When you add up all the salaries and benefits paid to our faculty and staff (and the purchasing power they represent), as well as the expenditures of the University and our students, the U of T community contributes an economic stimulus of $12B annually to the province of Ontario, with most of that stimulus within the GTA -- that's about 20% more than the City's entire annual operating budget. At the neighbourhood level, the University has a deep and extensive root system. It can be thought of as an 'anchor tenant' to use a real estate analogy that helps stabilize communities. Not only does its presence generate substantial economic activity for nearby businesses of every description, but it also keeps local property markets buoyant. And it's here for the long run -- 187 years and counting -- and it's not going anywhere anytime soon! Moreover, our many students learn by working with community partners in neighbourhoods across the region. Our dentistry students served 78,000 patient-visits in their clinics last year as part of their training -- half of these patients were children or seniors and 87% were without insurance. A group called IMAGINE -- led by students in medicine, nursing, pharmacy, social work and other professions provides free health care in downtown Toronto, for those experiencing homelessness or mental health issues, and new immigrants not covered by OHIP. Our students also work with community partners at the East Scarborough Storefront, serving the social needs of residents in Kingston-Galloway and Orton Park. As often as our students and faculty go into the community, the community comes onto our campuses: Members of the general community comprise 40% of the enrolment for fitness, creative clubs, and classes at Hart House. Every summer and March break, thousands of kids descend upon U of T: in 2012, the Junior Blues and Camp U of T had more than 8,500 participants between the ages of 4 and 17 -- with another 1,500 on the waiting list! And our Munk School of Global Affairs welcomes an astounding 33,000 visitors annually to its seminars, conferences, lectures and other public events. I mention these examples because they are absolutely typical and, like most root systems, nearly invisible. They are also important sources of community stability. Of course, town and gown challenges inevitably arise, and we've had our share. But too often these are allowed to overshadow decades of wonderful partnerships that go largely unnoticed. Speaking of wonderful partnerships brings me to my final takeaway message. Universities like ours connect their host regions to the world, and vice versa. They are invaluable gateways to global knowledge and global networks. Consider this: Canada produces at most 5% of the world's knowledge. Quite obviously, our present and future prosperity depend on our ability to access and use knowledge produced in other leading centres of research and innovation around the world. Indeed, a large portion of the knowledge produced in Canada is actually created at U of T, in collaboration with the world. In 2012 alone, authors with a U of T affiliation produced over 14,000 publications in scholarly journals and collaborated with over 8,000 institutions in hundreds of municipalities around the world. These collaborations often lead to ideas that fuel local innovation, even as Toronto-led innovations flow into the global arena. In my Installation Address last November, I proposed that U of T should leverage its urban location in the Toronto Region more fully and, at the same time, strengthen its partnerships with other universities around the world. I see these two goals as mutually reinforcing. Let me elaborate: if we focus our energy on deepening our bonds with other great universities in other great city-regions around the world, we can learn much from our international counterparts about how they are working with their local partners to solve urban challenges and create opportunities. We can then import those lessons back to Toronto, for the wider benefit of the community here. In this way, our role as a portal to global knowledge networks brings important benefits to the Toronto region. At the same time, we bring key knowledge resources to Toronto in embodied form: fully half the faculty we hire in a typical year come from outside Canada -- including both non-Canadians and Canadians studying or working abroad. And our student body is increasingly internationalized: 20 percent of this year's incoming class is comprised of international students -- double the proportion we had only 5 or 6 years ago. They come from over 900 different municipalities worldwide. Of course, our ability to attract and retain great faculty, staff and students rests squarely on the very high quality of place offered by our host region. Our cultural buzz and social harmony, our safe and vibrant neighbourhoods, our stable property markets, our public schools and libraries, and other aspects of urban life make us a magnet for talent from around the world. And in turn, the talent we attract and retain adds value and creates opportunity for the entire region, province and country. Let me conclude with an observation. In the knowledge-based economy, universities have come to be regarded as prized competitive assets for cities, regions, and nation-states. We see striking evidence of this in the lengths to which municipalities in Ontario without a university campus will go in order to attract one [e.g. Barrie, Markham, Milton, Burlington...]. We see more evidence overseas, where jurisdictions from Singapore to Saudi Arabia have invested huge amounts of capital attempting to build world-class, research universities. The leadership in these places recognizes the value that universities bring to their host regions. The benefits of regional dynamism and resilience, stability, and global connectedness are too important to ignore. Of course, it takes a dynamic region as a symbiotic partner for a university to flourish. I submit to you that we are fortunate to have both: a globally renowned research university and a world-class city-region right here in Toronto. As you may know, U of T is consistently ranked among the top 20 or 25 universities worldwide, and among the top 10 public universities. If we are going to succeed in meeting the challenges and seizing the opportunities I enumerated at the outset of this talk, we would be wise to work together! So let me extend an invitation to the civic leadership represented in this room: the University of Toronto stands ready, willing and able to work with you towards our common goals. I invite you to help us find imaginative ways to deepen our relationships and work with one another. As a university, we are committed to identifying, celebrating, and scaling up our most successful examples of community outreach and partnership. We are already partnering with other post-secondary institutions in the region, including Seneca, George Brown, and Centennial, and I have recently initiated a conversation with the Presidents of York, Ryerson and OCAD to explore potential collaborations aimed at addressing the region's most pressing challenges. We are in advanced stages of planning with the University of Waterloo and Western to establish a joint entrepreneurship accelerator in the new MaRS tower. We are working with City Hall on all three campuses to find new ways to inform debates, provide analysis, and bring our evidence and expertise to bear on the most important urban issues of the day. And we are redefining our relationships with our closest neighbours: local ratepayers associations, councilors, and nearby educational and cultural institutions. In this way, we are taking seriously our role as a citybuilder, figuratively and literally. But we have an obligation to do more, and it is in our own best interest to do more. I recognize that in many ways I have been preaching to the converted this afternoon. The leadership represented here does a huge amount for our city; and many of you are already among the University's closest friends, advisors, and partners. For this, let me extend my sincere thanks. Indeed, the leadership in this room represented by U of T alumni alone speaks volumes about the University's contribution to the region. I know we can make this region an even better place in which to live, study, work and prosper. I look forward to working together with you towards these goals. And I thank you for the opportunity to get started on them today. Thank you for your kind attention. I hope I have left time for few questions.



The idea of a Board of Trade was first translated into action by Oliver Cromwell in 1655 when he appointed his son Richard Cromwell to head a body of Lords of the Privy Council, judges and merchants to consider measures to promote trade. Charles II established a Council of Trade on 7 November 1660 followed by a Council of Foreign Plantations on 1 December that year. The two were united on 16 September 1672 as the Board of Trade and Plantations.

After the Board was re-established in 1696, there were 15 (and later 16) members of the Board - the 7 (later 8) Great Officers of State, and 8 unofficial members, who did the majority of the work. The senior unofficial member of the board was the President of the Board, commonly known as the First Lord of Trade. The board was abolished on 11 July 1782, but a Committee of the Privy Council was established on 5 March 1784 for the same purposes. On 23 August 1786 a new Committee was set up, more strongly focused on commercial functions than the previous boards of trade. At first the President of the Board of Trade only occasionally sat in the Cabinet, but from the early 19th century it was usually a cabinet-level position.

List of Presidents of the Board of Trade

First Lord of Trade (1672–1782)

Name Portrait Took office Left office
The Earl of Shaftesbury
Anthony Ashley-Cooper, 1st Earl of Shaftesbury.jpg
16 September 1672 1676
The Earl of Bridgewater
16 December 1695 9 June 1699
The Earl of Stamford
Thomas Grey, 2nd Earl of Stamford.jpg
9 June 1699 19 June 1702[2]
The Viscount Weymouth
19 June 1702 1705
The Earl of Stamford
Thomas Grey, 2nd Earl of Stamford.jpg
1705 12 June 1711
The Earl of Winchilsea
12 June 1711 15 September 1713
The Lord Guilford
Francis North, 2nd Baron Guildford (1673-1729), circle of Thomas Murray (1663-1734).jpg
15 September 1713 September 1714
The Lord Berkeley of Stratton
September 1714 12 May 1715
The Earl of Suffolk
12 May 1715 31 January 1718
The Earl of Holderness
Robert Darcy, 3rd Earl of Holderness (1681-1721), by Charles d'Agar.jpg
31 January 1718 11 May 1719
The Earl of Westmorland
11 May 1719 May 1735
The Earl Fitzwalter
May 1735 June 1737
The Lord Monson
June 1737 1 November 1748
The Earl of Halifax
1 November 1748 21 March 1761
The Lord Sandys
21 March 1761 1 March 1763
Hon. Charles Townshend
1 March 1763 20 April 1763
The Earl of Shelburne
William Petty, 2nd Earl of Shelburne by JL Mosnier crop.jpg
20 April 1763 9 September 1763
The Earl of Hillsborough
Marquess of Downshire.jpg
9 September 1763 20 July 1765
The Earl of Dartmouth
William Legge, 2nd Earl of Dartmouth.jpg
20 July 1765 16 August 1766
The Earl of Hillsborough
Marquess of Downshire.jpg
16 August 1766 December 1766
The Viscount Clare
Thomas-gainsborough-portrait-of-robert-nugent-lord-clare-c-1759 a-l-10069972-8880731.jpg
19 January 1767 20 January 1768
The Earl of Hillsborough
Marquess of Downshire.jpg
20 January 1768 31 August 1772
The Earl of Dartmouth
William Legge, 2nd Earl of Dartmouth.jpg
31 August 1772 10 November 1775
Lord George Sackville-Germain
George Germain, 1st Viscount Sackville.PNG
10 November 1775 6 November 1779
The Earl of Carlisle
Romney - Frederick Howard, Fifth Earl of Carlisle.jpg
6 November 1779 9 December 1780
The Lord Grantham
Thomas Robinson 2nd Baron.jpg
9 December 1780 11 July 1782

President of the Committee on Trade and Foreign Plantations (1784–1786)

Name Portrait Took office Left office Political party Prime Minister
The Lord Sydney
Viscount Sydney by Gilbert Stuart.jpg
5 March 1784 23 August 1786 Whig William Pitt the Younger

President of the Board of Trade (1786–1900)

Name Portrait Took office Left office1866 Political party Prime Minister
The Earl of Liverpool
Charles Jenkinson, 1st Earl of Liverpool by George Romney.jpg
23 August 1786 7 June 1804 Tory William Pitt the Younger
Henry Addington
The Duke of Montrose
7 June 1804 5 February 1806 Tory William Pitt the Younger
The Lord Auckland
William Eden 1. baron Auckland.jpg
5 February 1806 31 March 1807 The Lord Grenville
(Ministry of All the Talents)
The Earl Bathurst
Henry Bathurst, 3rd Earl Bathurst by William Salter.jpg
31 March 1807 29 September 1812 Tory The Duke of Portland
Spencer Perceval
The Earl of Liverpool
The Earl of Clancarty
Richard Le Poer Trench, 2nd Earl of Clancarty by Joseph Paelinck.jpg
29 September 1812 24 January 1818 Tory
F. J. Robinson
Frederick John Robinson, 1st Earl of Ripon by Sir Thomas Lawrence cropped.jpg
24 January 1818 21 February 1823 Tory
William Huskisson
William Huskisson by Richard Rothwell.jpg
21 February 1823 4 September 1827 Tory
George Canning
Charles Grant
4 September 1827 11 June 1828 Tory The Viscount Goderich
The Duke of Wellington
William Vesey-FitzGerald
11 June 1828 2 February 1830 Tory
John Charles Herries
John Charles Herries.jpg
2 February 1830 22 November 1830 Tory
The Lord Auckland
George Eden, 1st Earl of Auckland.png
22 November 1830 5 June 1834 Whig The Earl Grey
The Viscount Melbourne
Charles Poulett Thomson
Lord Sydenham.jpg
5 June 1834 14 November 1834 Whig
Alexander Baring
15 December 1834 8 April 1835 Tory The Duke of Wellington
Sir Robert Peel
Charles Poulett Thomson
Lord Sydenham.jpg
8 April 1835 29 August 1839 Whig The Viscount Melbourne
Henry Labouchere
Portrait of Henry Labouchere, Baron Taunton by Charles Baugniet.jpg
29 August 1839 30 August 1841 Whig
The Earl of Ripon
Frederick John Robinson, 1st Earl of Ripon by Sir Thomas Lawrence cropped.jpg
3 September 1841 15 May 1843 Conservative Sir Robert Peel
William Ewart Gladstone
William Gladstone by Mayall, 1861.jpg
15 May 1843 5 February 1845 Conservative
The Earl of Dalhousie
5 February 1845 27 June 1846 Conservative
The Earl of Clarendon
6 July 1846 22 July 1847 Whig Lord John Russell
Henry Labouchere
Portrait of Henry Labouchere, Baron Taunton by Charles Baugniet.jpg
22 July 1847 21 February 1852 Whig
J. W. Henley
Joseph Warner Henley.jpg
27 February 1852 17 December 1852 Conservative The Earl of Derby
Edward Cardwell
28 December 1852 31 March 1855 Peelite The Earl of Aberdeen
The Lord Stanley of Alderley
Stanley of Adderley2.JPG
31 March 1855 21 February 1858 Whig The Viscount Palmerston
J. W. Henley
Joseph Warner Henley.jpg
26 February 1858 3 March 1859 Conservative The Earl of Derby
The Earl of Donoughmore
3 March 1859 11 June 1859 Conservative
Thomas Milner Gibson
Thomas Milner Gibson.JPG
6 July 1859 26 June 1866 Liberal The Viscount Palmerston
The Earl Russell
Sir Stafford Northcote, Bt
Stafford Northcote, 1st Earl of Iddesleigh.jpg
6 July 1866 8 March 1867 Conservative The Earl of Derby
The Duke of Richmond
Charles Henry Gordon-Lennox, 6th Duke of Richmond, 6th Duke of Lennox, and 1st Duke of Gordon.jpg
8 March 1867 1 December 1868 Conservative
Benjamin Disraeli
John Bright
John Bright.jpg
9 December 1868 14 January 1871 Liberal William Ewart Gladstone
Chichester Parkinson-Fortescue
1st Baron Carlingford.jpg
14 January 1871 17 February 1874 Liberal
Sir Charles Adderley
Charles Bowyer Adderley, Lord Norton.jpg
21 February 1874 4 April 1878 Conservative Benjamin Disraeli
Viscount Sandon
DFS Ryder 3rd Earl of Harrowby, Lock & Whitfield.jpg
4 April 1878 21 April 1880 Conservative
Joseph Chamberlain
Joseph Chamberlain in colour.jpg
3 May 1880 9 June 1885 Liberal William Ewart Gladstone
The Duke of Richmond
Charles Henry Gordon-Lennox, 6th Duke of Richmond, 6th Duke of Lennox, and 1st Duke of Gordon.jpg
24 June 1885 19 August 1885 Conservative The Marquess of Salisbury
Edward Stanhope
Edward Stanhope.jpg
19 August 1885 28 January 1886 Conservative
A. J. Mundella
Anthony Mundella.JPG
17 February 1886 20 July 1886 Liberal William Ewart Gladstone
The Lord Stanley of Preston
Frederick Arthur Stanley.jpg
3 August 1886 21 February 1888 Conservative The Marquess of Salisbury
Sir Michael Hicks Beach, Bt
St Aldwyn Michael Edward Hicks-Beach (1st Earl).jpg
21 February 1888 11 August 1892 Conservative
A. J. Mundella
Anthony Mundella.JPG
18 August 1892 28 May 1894 Liberal William Ewart Gladstone
James Bryce
1st Viscount Bryce 1902b.jpg
28 May 1894 21 June 1895 Liberal The Earl of Rosebery
Charles Ritchie
Charles Thomson Ritchie headshot.jpg
29 June 1895 7 November 1900 Conservative The Marquess of Salisbury

President of the Board of Trade (1900–1963)

Name Portrait Took office Left office Political party Prime Minister
Gerald Balfour
7 November 1900 12 March 1905 Conservative The 3rd Marquess of Salisbury
Arthur Balfour
The Marquess of Salisbury
James Gascoyne-Cecil, 4th Marquess of Salisbury.jpg
12 March 1905 4 December 1905 Conservative
David Lloyd George
David Lloyd George 1902.jpg
10 December 1905 12 April 1908 Liberal Sir Henry Campbell-Bannerman
Winston Churchill
Churchill 1904 Q 42037.jpg
12 April 1908 14 February 1910 Liberal H. H. Asquith
Sydney Buxton
Sydney Buxton, 1st Earl Buxton.jpg
14 February 1910 11 February 1914 Liberal
John Burns
John Burns.jpg
11 February 1914 5 August 1914 Liberal
Walter Runciman
Portrait of Walter Runciman, 1st Viscount Runciman of Doxford.jpg
5 August 1914 5 December 1916 Liberal
Sir Albert Stanley
Lord Stanley by Hugh Cecil.jpg
10 December 1916 26 May 1919 Conservative David Lloyd George
Sir Auckland Geddes
Auckland Geddes.png
26 May 1919 19 March 1920 Conservative
Sir Robert Horne
Robert Horne cropped.jpg
19 March 1920 1 April 1921 Conservative
Stanley Baldwin
Stanley Baldwin ggbain.35233.jpg
1 April 1921 19 October 1922 Conservative
Sir Philip Lloyd-Greame
Lord Swinton.jpg
24 October 1922 22 January 1924 Conservative Bonar Law
Stanley Baldwin
Sidney Webb
Sidney Webb.jpg
22 January 1924 3 November 1924 Labour Ramsay MacDonald
Sir Philip Cunliffe-Lister
Lord Swinton.jpg
6 November 1924 4 June 1929 Conservative Stanley Baldwin
William Graham
Willie Graham.jpg
7 June 1929 24 August 1931 Labour Ramsay MacDonald
Sir Philip Cunliffe-Lister
Lord Swinton.jpg
25 August 1931 5 November 1931 Conservative Ramsay MacDonald
(1st National Min.)
Walter Runciman
Portrait of Walter Runciman, 1st Viscount Runciman of Doxford.jpg
5 November 1931 28 May 1937 Liberal National Ramsay MacDonald
(2nd National Min.)
Stanley Baldwin
(3rd National Min.)
Oliver Stanley 28 May 1937 5 January 1940 Conservative Neville Chamberlain
(4th National Min.;
War Coalition)
Sir Andrew Duncan 5 January 1940 3 October 1940 No party
Oliver Lyttelton 3 October 1940 29 June 1941 Conservative Winston Churchill
(War Coalition)
Sir Andrew Duncan 29 June 1941 4 February 1942 No party
John Jestyn Llewellin
The Home Front in Britain during the Second World War- Personalities TR41.jpg
4 February 1942 22 February 1942 Conservative
Hugh Dalton
Hugh Dalton HU 059487 crop.jpg
22 February 1942 23 May 1945 Labour
Oliver Lyttelton 25 May 1945 26 July 1945 Conservative Winston Churchill
(Caretaker Min.)
Sir Stafford Cripps
Stafford Cripps 1947.jpg
27 July 1945 29 September 1947 Labour Clement Attlee
Harold Wilson
Harold Wilson (1967).jpg
29 September 1947 23 April 1951 Labour
Sir Hartley Shawcross
Hartley William Shawcross, Baron Shawcross (cropped).png
24 April 1951 26 October 1951 Labour
Peter Thorneycroft
Peter Thornycroft.jpg
30 October 1951 13 January 1957 Conservative Sir Winston Churchill
Sir Anthony Eden
Sir David Eccles 13 January 1957 14 October 1959 Conservative Harold Macmillan
Reginald Maudling
Reginald Maudling.jpg
14 October 1959 9 October 1961 Conservative
Frederick Erroll
9 October 1961 20 October 1963 Conservative

President of the Board of Trade (1963–present)

Name Portrait Took office Left office Political party Prime Minister
President of the Board of Trade &
Secretary of State for Industry, Trade and Regional Development
Conservative Alec Douglas-Home
Edward Heath
20 October 1963 16 October 1964
President of the Board of Trade Labour Harold Wilson
Douglas Jay
18 October 1964 29 August 1967
Anthony Crosland
Ford A9572 Anthony Crosland crop.jpg
29 August 1967 6 October 1969
Roy Mason
6 October 1969 19 June 1970
Michael Noble 20 June 1970 15 October 1970 Conservative Edward Heath
President of the Board of Trade &
Secretary of State for Trade and Industry
John Davies
No image.svg
15 October 1970 5 November 1972
Peter Walker
No image.svg
5 November 1972 4 March 1974
President of the Board of Trade &
Secretary of State for Trade
Labour Harold Wilson
Peter Shore
No image.svg
5 March 1974 8 April 1976
Edmund Dell
8 April 1976 11 November 1978 Labour James Callaghan
John Smith
No image.svg
11 November 1978 4 May 1979
John Nott
5 May 1979 5 January 1981 Conservative Margaret Thatcher
John Biffen
No image.svg
5 January 1981 6 April 1982
The Lord Cockfield 6 April 1982 12 June 1983
President of the Board of Trade &
Secretary of State for Trade and Industry
Cecil Parkinson
12 June 1983 11 October 1983
Norman Tebbit
Official portrait of Lord Tebbit crop 2.jpg
16 October 1983 2 September 1985
Leon Brittan
Lord Brittan 2011.jpg
2 September 1985 22 January 1986
Paul Channon
No image.svg
24 January 1986 13 June 1987
The Lord Young of Graffham
Lord young of Graffham.jpg
13 June 1987 24 July 1989
Nicholas Ridley
No image.svg
24 July 1989 13 July 1990
Peter Lilley
Peter Lilley.jpg
14 July 1990 10 April 1992
Conservative John Major
Michael Heseltine
Lord Heseltine (6969083278).jpg
10 April 1992 5 July 1995
Ian Lang 5 July 1995 2 May 1997
Margaret Beckett
Margaret Beckett May 2007.jpg
2 May 1997 27 July 1998 Labour Tony Blair
Peter Mandelson
Peter Mandelson at Politics of Climate Change 3.jpg
27 July 1998 23 December 1998
Stephen Byers
23 December 1998 8 June 2001
Patricia Hewitt
Patricia Hewitt.jpg
8 June 2001 6 May 2005
Alan Johnson
Alan Johnson -9Oct2007-2.jpg
6 May 2005 5 May 2006
Alistair Darling
AlistairDarlingABr cropped.jpg
5 May 2006 27 June 2007
President of the Board of Trade &
Secretary of State for Business, Enterprise and Regulatory Reform
Labour Gordon Brown
John Hutton
Msc 2009-Sunday, 11.00 - 12.30 Uhr-Zwez 005 Hutton detail.jpg
28 June 2007 3 October 2008
The Lord Mandelson
Peter Mandelson at Politics of Climate Change 3.jpg
3 October 2008 5 June 2009
President of the Board of Trade &
Secretary of State for Business, Innovation and Skills
The Lord Mandelson
Peter Mandelson at Politics of Climate Change 3.jpg
5 June 2009 12 May 2010
Vince Cable
Vince Cable closeup.jpg
12 May 2010 8 May 2015 Liberal Democrats David Cameron
Sajid Javid
Official portrait of Sajid Javid MP.jpg
11 May 2015 15 July 2016 Conservative David Cameron
President of the Board of Trade &
Secretary of State for Business, Energy and Industrial Strategy
Conservative Theresa May
Greg Clark[α]
Official portrait of Greg Clark crop 2.jpg
15 July 2016 19 July 2016
President of the Board of Trade &
Secretary of State for International Trade
Liam Fox
Official portrait of Dr Liam Fox crop 2.jpg
19 July 2016 24 July 2019[6]
Liz Truss
Official portrait of Elizabeth Truss crop 2.jpg
24 July 2019 Incumbent Conservative Boris Johnson


  1. ^ Appointed by the Privy Council in error for 4 days before the mistake was rectified.[3][4][5]


  1. ^ Olson, Alison G. "The Board of Trade and Colonial Virginia". Encyclopedia Virginia. Retrieved 9 March 2015.
  2. ^ Office-Holders in Modern Britain: Volume 3, Officials of the Boards of Trade 1660-1870 - Council of trade and plantations 1696-1782
  3. ^ May, Callum (22 July 2016). "Minister Greg Clark was briefly given wrong job". BBC News. Retrieved 22 July 2016.
  4. ^ Tilbrook, Richard (15 July 2016). "Business Transacted and Orders Approved at the Privy Council Held by the Queen at Buckingham Palace on 15th July 2016" (PDF). Privy Council Office. Retrieved 22 July 2016.
  5. ^ Tilbrook, Richard (19 July 2016). "Business Transacted and Orders Approved at the Privy Council Held by the Queen at Buckingham Palace on 19th July 2016" (PDF). Privy Council Office. Retrieved 22 July 2016.
  6. ^ Liam Fox [@LiamFox] (24 July 2019). "Sadly, I will be leaving the Government. It has been a privilege to have served as Secretary of State for International Trade these past 3 years" (Tweet) – via Twitter.

This page was last edited on 21 December 2019, at 18:54
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