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The Department for Business and Trade (DBT) [1] is a ministerial department of the Government of the United Kingdom. It was established on 7 February 2023 by a cabinet reshuffle under the Rishi Sunak premiership. The new department absorbed the functions of the former Department for International Trade and some of the functions of the former Department for Business, Energy, and Industrial Strategy.
The department is headed by the Secretary of State for Business and Trade, assisted by a number of junior ministers. The incumbent is Peter Kyle.
The department was established on 7 February 2023. It combines the business-focused responsibilities of the former Department for Business, Energy, and Industrial Strategy (BEIS) with the former Department for International Trade (DIT). The ministers and senior civil servants from DIT were carried over to continue leading the new department.
The creation of the new department was described by Downing Street as an opportunity to provide "a single, coherent voice for business inside government, focused on growing the economy with better regulation, new trade deals abroad, and a renewed culture of enterprise at home". [2]
The department's focus was outlined by Downing Street as follows:
Since 26 April 2023, the work of the department has been scrutinised by the Business and Trade Select Committee of the House of Commons. This is a renaming of the Business Energy and Industrial Strategy Committee, which absorbs the responsibilities of the dissolved International Trade Committee. [3] [4]
The department was responsible for finalising negotiations for the UK's to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership in April 2023, a free-trade agreement (FTA) between 11 countries around the Pacific Rim: Canada, Mexico, Peru, Chile, New Zealand, Australia, Brunei, Singapore, Malaysia, Vietnam and Japan. It successfully concluded an agreement after two years of negotiations. [5] [6]
In April 2021, The Lord Grimstone of Boscobel established the UK Investment Council under the DBT to enhance UK inward investment and inform the trade policy of the UK by providing a forum for global investors to offer high-level advice to the government.
In May 2023, the Minister for Investment, The Lord Johnson of Lainston, became the first UK government minister to visit Hong Kong since 2018, and the first since the imposition of a new national security law by Beijing in the Special Administration Region. [7]
In May 2023, the department announced that it had commenced negotiations for a bilateral trade agreement with Switzerland. [6] [8]
The DBT ministers are as follows, with cabinet members in bold: [9]
Minister | Portrait | Office | Portfolio |
---|---|---|---|
Peter Kyle MP | ![]() | Secretary of State for Business and Trade President of the Board of Trade | Overall responsibility for the department. Responsible for leading on departmental strategy and delivering on the department's responsibilities. Also responsible for engaging with business across government, and for making necessary public appointments. The Secretary of State is responsible for leading UK government representation during free trade agreement negotiations, outlining mandates, and making decisions. The Secretary of State also leads UK government representation at meetings of the World Trade Organization, and at ministerial meetings of the G7 and G20 where the Secretary of State is further responsible for developing and maintaining the UK's overseas business network. [10] As President of the Board of Trade, the Secretary of State is responsible for leading engagement with the whole of the UK on the UK's global trade and investment agenda. The role is held concurrently with his position as Secretary of State for Business and Trade. [11] |
Jason Stockwood | Minister of State for Investment | Responsible for the Office for Investment; investor relations; investment events and delivery; life sciences; GREAT board | |
Sir Chris Bryant MP | ![]() | Minister of State for Trade | Trade strategy implementation; WTO and CPTPP; free trade agreements; international industrial strategy; export strategy and trade promotion; EU, Windsor Framework and UK Internal Market; Ukraine reconstruction; creative industries; economic and investment security; trade remedies; sanctions; import/export controls; Trade Remedies Authority; UK Export Finance |
Blair McDougall MP | ![]() | Parliamentary Under-Secretary of State for Small Business and Economic Transformation | Industrial Strategy implementation; Industrial Strategy Council; entrepreneurs and small businesses; scale-ups; access to finance; regulation; corporate governance; insolvency; Post Office; postal services |
Kate Dearden MP | ![]() | Parliamentary Under-Secretary of State for Employment Rights and Consumer Protection | Employment rights; labour market enforcement; consumer protection; retail and hospitality; consumer goods; product safety; Department Corporate Minister; competition policy |
Liz Lloyd | Parliamentary Under-Secretary of State for Digital Economy | Business support for developing the digital economy; DBT digital government; One Login for business; digital trade policy; regulatory environment for digital enterprises; labour market environment for digital entrepreneurs; preparation for economic impact of transformative AI/AGI; tech adoption and skills; professional services; COVID loan recovery | |
Chris McDonald MP | ![]() | Parliamentary Under-Secretary of State for Industry | Advanced manufacturing; automotive; aerospace; chemicals and plastics; construction; infrastructure; maritime and shipbuilding; steel; materials and critical minerals; Industrial Development Advisory Board; defence |