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President of the Board of Trade facts for kids

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United Kingdom
President of the Board of Trade
Coat of arms of the United Kingdom (2022, lesser arms).svg
Royal Arms as used by His Majesty's Government
Official portrait of Jonathan Reynolds MP crop 2.jpg
Incumbent
Jonathan Reynolds
since 5 July 2024
Board of Trade
UK Export Finance
Style The Right Honourable
(Formal prefix)
President of the Board of Trade
Member of British Cabinet
Privy Council
Reports to The Prime Minister
Seat Westminster, London
Appointer The Sovereign
on advice of the Prime Minister
Term length No fixed term

The President of the Board of Trade is a very important role in the United Kingdom government. This person leads the Board of Trade, which is a special committee of the Privy Council. The Board of Trade helps manage and promote trade for the country. It started a long time ago, in the 17th century, as a group that looked into trade matters. Over time, it grew into a full government department with many different tasks. The person currently holding this position is Jonathan Reynolds, who also serves as the Secretary of State for Business and Trade.

The History of the Board of Trade

The idea of having a special group to focus on trade first came about in 1655. A leader named Oliver Cromwell created a committee. He asked his son, Richard Cromwell, to lead this group. It included important people like Lords, judges, and merchants. Their job was to think of ways to help trade grow.

Later, in 1660, King Charles II set up a Council of Trade. Soon after, he created another council for foreign plantations. These two groups worked separately for a while. Then, in 1672, they joined together to form the Board of Trade and Plantations.

The Board was set up again in 1696. It had many members, including important government officials and other experts. The main leader of this group was called the President of the Board. This role was often known as the First Lord of Trade.

In 1782, the Board was officially closed. However, a new committee was quickly formed in 1784 to do similar work. By 1786, a new, more focused committee was created. This new group concentrated mainly on business and trade. At first, the President of the Board of Trade did not always attend the Cabinet meetings. But by the early 1800s, it became a very senior position, usually part of the Cabinet.

Over the years, the role of the President of the Board of Trade has changed. It has adapted to the needs of the country's economy and international trade. Today, it remains a key position in the British government.

Images for kids

  • Anthony Ashley-Cooper, 1st Earl of Shaftesbury

    Anthony Ashley Cooper, an early leader involved in trade councils.

  • Charles Jenkinson, 1st Earl of Liverpool by George Romney

    Charles Jenkinson, the first Earl of Liverpool, who served as President.

  • William Ewart Gladstone CDV 1861 for infobox

    William Ewart Gladstone, a famous Prime Minister who also held this role.

  • Joseph Chamberlain in colour

    Joseph Chamberlain, a key figure in British politics and trade.

  • David Lloyd George 1902

    David Lloyd George, who later became Prime Minister.

  • Churchill 1904 Q 42037

    Winston Churchill, another future Prime Minister who served as President.

  • Stanley Baldwin ggbain.35233

    Stanley Baldwin, a Prime Minister in the 20th century.

  • Harold Wilson (1967)

    Harold Wilson, a Labour Prime Minister.

  • Sir Edward Heath

    Edward Heath, a Conservative Prime Minister.

  • Liz Truss

    Liz Truss, a recent Prime Minister and President of the Board of Trade.

  • Kemi Badenoch official Cabinet Portrait; 2022 (cropped)

    Kemi Badenoch, a recent President of the Board of Trade.

  • Official portrait of Jonathan Reynolds MP crop 2

    Jonathan Reynolds, the current President of the Board of Trade.

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