A committee of the Privy Council of the United Kingdom, it was first established as a temporary committee of inquiry in the 17th century that evolved gradually into a government department with diverse functions.

[1] The current holder of the post is Jonathan Reynolds,[2] who is concurrently the secretary of state for business and trade.

The idea of a Board of Trade was first translated into action by Oliver Cromwell in 1655 when he appointed his son Richard Cromwell to head a body of Lords of the Privy Council, judges and merchants to consider measures to promote trade.

The board was abolished on 11 July 1782, but a Committee of the Privy Council was established on 5 March 1784 for the same purposes.

On 23 August 1786, a new committee was set up, more strongly focused on commercial functions than the previous boards of trade.