Department For Business And Trade

The Department for Business and Trade (DBT) is a department of His Majesty's Government established on 7 February 2023, after a government reshuffle, the first by prime minister Rishi Sunak. The new department absorbed the functions of the former Department for International Trade (DIT) and some of the functions of the former Department for Business, Energy, and Industrial Strategy (BEIS).

The department is headed by the Secretary of State for Business and Trade, assisted by a number of junior ministers. The present incumbent and the first to hold the role is Kemi Badenoch; she is also President of the Board of Trade and Minister for Women and Equalities. Badenoch was previously the final Secretary of State at DIT.

Background

Foundation

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". Text was copied from this source, which is available under a
Open Government Licence v3.0
© Crown copyright.

Responsibilities

The department's focus was outlined by Downing Street as follows:
*Delivering economic growth opportunities across the economy.
*Backing business by improving access to finance and delivering a pro-enterprise regulatory system;
*Promoting British businesses on the global stage and attracting high-value investment, including through high-quality Free Trade Agreements with India and other priority partners.
*Promoting competitive markets and addressing market distorting practises to support growth whilst protecting consumers;
*Championing free trade;
*Ensuring economic security and supply chain resilience;
*Supporting economic growth and innovation by making the most of Brexit freedoms and removing unnecessary regulatory burdens;
*Delivering legislation on setting minimum service levels for priority public service sectors and to review, reform, retain, and/or repeal retained EU law by December 2023.

Scrutiny

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.

History

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 2 years of negotiations.

In May 2023, the Minister for Investment, Dominic Johnson 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 a bilateral trade agreement with Switzerland.

Ministers

Ministers in the department since November 2023:

See also

*Department for International Trade - preceding body from 2016 to 2023.
*Department for Business, Energy, and Industrial Strategy - preceding body from 2016 to 2023.
* Department of Trade and Industry - UK government department with a historically similar function from 1970 to 2007.

References

External links

Official webpage
on GOV.UK.
''Making Government Deliver: Updating the machinery of government for the world of today and of tomorrow''
policy paper forwarded by Rishi Sunak explaining the rationale for the department.

{{Departments of the United Kingdom Government, type=Ministerial, title=Business and Trade
Business in the United Kingdom
Trade in the United Kingdom
Trade ministries
Ministries established in 2023
2023 establishments in the United Kingdom