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Parliamentary Secretary, Ministry of Supply, 1955–1956; and to Board of Trade, 1956–1958; Economic Secretary to the Treasury, 1958–1959; Minister of State, Board of Trade, 1959–1961; President of the Board of Trade, 1961–1963; Minister of Power, 1963–1964.
It was founded by Hugh Dalton, President of the Board of Trade in the wartime Government, and its objective was 'to promote by all practicable means the improvement of design in the products of British industry'.
He served under his father and then his cousin Arthur Balfour as Parliamentary Under-Secretary of State for Foreign Affairs from 1900 to 1903 and under Balfour as Lord Privy Seal from 1903 to 1905 and as President of the Board of Trade in 1905.
On Canning's promotion to the board of trade in 1809 he succeeded him as Under-Secretary of State for Foreign Affairs.
After study at the University of Glasgow, he became a successful QC and was elected to represent Glasgow Hillhead in Parliament, and served as Minister of Labour, President of the Board of Trade and Chancellor of the Exchequer under Lloyd George after the First World War.
The fourth earl was a statesman, diplomat (architect of the Quadruple Alliance of 1834), Lord Privy Seal, Chancellor of the Duchy of Lancaster, President of the Board of Trade, Lord Lieutenant of Ireland, Knight of the Garter, Knight Grand Cross of the Bath, and Secretary of State for Foreign Affairs.
Walter Runciman, a politician whose career included service as a Member of Parliament, President of the Board of Trade and Lord President of the Council.
In the aftermath of the accident, questions to the President of the Board of Trade Sir Michael Hicks Beach revealed that
He named his settlement Port Hillsborough, after Wills Hill, earl of Hillsborough (afterwards marquis of Downshire), president of the Board of Trade and Plantations (1763–1765).
He also served as president of the board of trade and of the Vessel Owners and Captains’ Association and as member of the Union League of Philadelphia.
It was part of a number of acts introduced by David Lloyd George, and later Winston Churchill, as President of the Board of Trade, to improve conditions for workers.