20-569: The Insolvency Service is an executive agency of the Department for Business and Trade with headquarters in London. It has around 1,700 staff, operating from 22 locations across the UK. The Insolvency Service administers compulsory company liquidations and personal bankruptcies and deals with misconduct through investigation of companies and enforcement. It also makes redundancy payments in cases where
40-1123: A bilateral trade agreement with Switzerland. The DBT ministers are as follows, with cabinet members in bold: 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 her position as Secretary of State for Business and Trade. Secretary of State for Business and Trade King Charles III [REDACTED] William, Prince of Wales [REDACTED] Charles III ( King-in-Council ) [REDACTED] Starmer ministry ( L ) Keir Starmer ( L ) Angela Rayner ( L ) ( King-in-Parliament ) [REDACTED] Charles III [REDACTED] [REDACTED] [REDACTED] The Lord Reed The Lord Hodge Andrew Bailey Monetary Policy Committee The secretary of state for business and trade (business secretary) ,
60-771: A company is insolvent. The Insolvency Service is responsible for authorising and regulating the insolvency profession. They: The Insolvency Service operates under a statutory framework – mainly the Insolvency Act 1986 , the Insolvency Act 2000 , the Company Directors Disqualification Act 1986 and the Employment Rights Act 1996 . Insolvency Service staff are based across the UK in a network of 38 official receiver offices throughout England and Wales; On 1 April 2006, Companies Investigation Branch of BERR transferred to
80-607: 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. 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
100-435: A number of junior ministers. The incumbent is Jonathan Reynolds . 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
120-693: 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
140-649: Is a secretary of state in the Government of the United Kingdom , with responsibility for the Department for Business and Trade . The incumbent is a member of the Cabinet of the United Kingdom . The incumbent business secretary is Jonathan Reynolds who was appointed by Keir Starmer on 5 July 2024. The Secretary of State is shadowed by the Shadow Secretary of State for Business and Trade , currently Kevin Hollinrake since 2024. Corresponding to what
160-1136: Is demonstrated on a frequent basis. The Agency Chief Executive is the Agency Accounting Officer and is responsible for the day-to-day running of the Service. Dean Beale succeeded Sarah Albon on 4 November 2020. The Insolvency Service Board is responsible for the long-term success of the agency. This includes: The board is made up of both executive and non-executive members. The executive members are: The non-executive members are: Department for Business and Trade King Charles III [REDACTED] William, Prince of Wales [REDACTED] Charles III ( King-in-Council ) [REDACTED] Starmer ministry ( L ) Keir Starmer ( L ) Angela Rayner ( L ) ( King-in-Parliament ) [REDACTED] Charles III [REDACTED] [REDACTED] [REDACTED] The Lord Reed The Lord Hodge Andrew Bailey Monetary Policy Committee The Department for Business and Trade ( DBT )
180-451: Is generally known as a commerce minister in many other countries, the business secretary's remit includes: During the government of Sir Alec Douglas-Home , the then president of the Board of Trade , Edward Heath , was given in addition the job of secretary of state for industry, trade and regional development . This title was not continued under Harold Wilson , but when Heath became Prime Minister in 1970 he decided to merge functions of
200-688: 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. 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,
220-570: The Department for Energy and Climate Change into this department with the responsibilities for post-19 education and skills being returned to the Department for Education resulting in the position being renamed to Secretary of State for Business, Energy and Industrial Strategy . At the same time in July 2016, the post of President of the Board of Trade was transferred to the newly created post of Secretary of State for International Trade . The current role of Secretary of State for Business and Trade
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#1732776022348240-468: The Department of Prices and Consumer Protection , resulting in the creation of three new positions: Secretary of State for Industry , Secretary of State for Prices and Consumer Protection , and Secretary of State for Trade . The title President of the Board of Trade became the secondary title of the Secretary of State for Trade. By 1979 the Department of Prices and Consumer Protection was abolished by
260-508: The Board of Trade and the Ministry of Technology to create the Department of Trade and Industry . The head of this department became known as the secretary of state for trade and industry and also retained the title of President of the Board of Trade . When Harold Wilson re-entered office in March 1974, the office was split into the Department of Trade , the Department of Industry and
280-580: 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. In May 2023, the department announced that it had commenced negotiations for
300-478: The incoming Conservative government and its responsibilities were reintegrated into the Department of Trade. Furthermore, 1983 the offices of trade and industry were remerged and the title of Secretary of State for Trade and Industry was recreated. When Michael Heseltine held this office, he preferred to be known by the older title of President of the Board of Trade, and this practice was also followed by Ian Lang and Margaret Beckett . Heseltine's decision to reuse
320-405: 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". The department's focus was outlined by Downing Street as follows: Since 26 April 2023, the work of the department has been scrutinised by
340-507: The old title caused some controversy, and it was discovered that the Board of Trade had not in fact met since the mid-nineteenth century. Under Gordon Brown 's premiership there were two re-namings of the role and three re-alignments of responsibility. In his first cabinet of 2007, he called the post Secretary of State for Business, Enterprise and Regulatory Reform . With this change, the Better Regulation Executive
360-677: The service and is based in offices in both London and Manchester. The new debt relief orders which came into force on 6 April 2009 under the Tribunals, Courts and Enforcement Act 2007 are not dealt with by official receivers' offices but at the service's Plymouth office. In April 2003, the Redundancy Payments Service transferred to the Insolvency Service. This enabled a joined-up approach to company failure and any consequential redundancies to be had and this
380-455: Was added to the department but the Office of Science and Innovation was lost. In 2008, the title remained the same but responsibility for energy was lost. In 2009, the Department for Innovation, Universities and Skills was merged into the existing department and the post became Secretary of State for Business, Innovation and Skills . In July 2016, Prime Minister Theresa May decided to merge
400-442: Was established on 7 February 2023 after a cabinet reshuffle by Prime Minister Rishi Sunak saw the dissolution of the Department for Business, Energy and Industrial Strategy and its responsibilities transferred to three new departments: Department for Business and Trade , the Department for Science, Innovation and Technology , and the Department for Energy Security and Net Zero . The new Department for Business and Trade absorbed
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