Board of Trade

The Board of Trade is a British government body concerned with commerce and industry, currently within the Department for Business and Trade. Its full title is The Lords of the Committee of the Privy Council appointed for the consideration of all matters relating to Trade and Foreign Plantations, but is commonly known as the Board of Trade, and formerly known as the Lords of Trade and Plantations or Lords of Trade, and it has been a committee of the Privy Council of the United Kingdom. The board has gone through several evolutions, beginning with extensive involvement in colonial matters in the 17th century, to powerful regulatory functions in the Victorian Era and early 20th century. It was virtually dormant in the last third of the 20th century. In 2017, it was revitalised as an advisory board headed by the International Trade Secretary who has nominally held the title of President of the Board of Trade, and who at present is the only privy counsellor of the board, the other members of the present board filling roles as advisers. The board was first established as a temporary committee of England's Privy Council to advise on colonial (plantation) questions in the early 17th century, when these settlements were initially forming. The board would evolve gradually into a government department with considerable power and a diverse range of functions, including regulation of domestic and foreign commerce, the development, implementation and interpretation of the Acts of Trade and Navigation, and the review and acceptance of legislation passed in the colonies. Between 1696 and 1782 the Board of Trade, in partnership with the various secretaries of state over that time, held responsibility for colonial affairs, particularly in British America. The newly created office of Home Secretary then held colonial responsibility until 1801, when the Secretary of State for War and the Colonies was established.

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