Minister of State (Minister for Investment)
Responsibilities
The minister’s Department for International Trade responsibilities include:
- developing a new investment strategy
- promoting all forms of investment
- business-investor relations
- leading on the strategic relationship management programme
- leading departmental business in the House of Lords
The minister’s Department for Business, Energy and Industrial Strategy (BEIS) responsibilities include:
- advanced manufacturing
- automotive
- defence
- infrastructure
- materials (including steel)
- professional and business services
The minister works to ensure that BEIS policy and sectoral engagement is aligned with DIT’s investment objectives.
Current role holder
Lord Grimstone of Boscobel Kt
Lord Grimstone of Boscobel Kt was appointed unpaid Minister for Investment jointly at the Department for International Trade and the Department for Business, Energy & Industrial Strategy on 18 March 2020.
Before joining government, his career spanned the private and public sectors. His roles have included:
- chairman of Barclays Bank plc and Standard Life Aberdeen
- lead non-executive on the board of the Ministry of Defence
- chairman of financial services body, TheCityUK, from 2012 to 2015
- member of HM Treasury’s Financial Services Trade and Investment Board
Lord Grimstone has held board appointments across many sectors and served as one of the UK’s Business Ambassadors.
He also:
- conducted the Cabinet Office’s triennial review of the Civil Service Commission
- conducted the Cabinet Office’s Review of Public Appointments in the UK, which led to the Public Appointments Code
- led a taskforce to establish the new Centre for Public Services Leadership
He has a particular interest in UK-China and UK-India relations. He has joined several Prime Ministerial visits, including the annual Economic and Financial Dialogues between the countries. He also chaired TheCityUK China Market Advisory Group.
Lord Grimstone was knighted in 2014 for public service to defence and business.
Announcements
Subscriptions
- UAE to invest £10 billion in priority UK industries
- £91 million funding for low carbon auto tech including hydrogen engines and ultra-fast charging batteries
- New £53 million funding for UK manufacturers to boost competitiveness through digital tech
- Business Secretary co-chairs third UK Steel Council meeting of 2021: 21 July
- New and improved National Security and Investment Act set to be up and running
- Huge green jobs windfall for the North-East and Yorkshire
- New funding to support UK professional and business services regulators
- Foreign investment boosts UK jobs during pandemic
- Lord Grimstone co-chairs second Steel Procurement Taskforce meeting
- Government responds to consultation on amendments to the Architects Act