Lord Price quits as a trade minister

Lord Price quit as a trade minister in Theresa May’s Government after less than 15 months today.

The ex boss of Waitrose said he wanted to focus on his business interests and on writing books.

Lord Price was appointed to help Liam Fox run the Department for International Trade last July. 

Lord Price said: ‘It has been an honour to serve as minister for trade and investment and then trade policy following the EU referendum.

‘Having visited 35 countries since then I am certain that there is a huge appetite to build new and develop existing trade agreements with the UK.

‘The trade policy team is well prepared for that work.

‘I previously said I would be working within Government for a time-limited period, and will now be leaving to pursue my wider business and writing interests, while continuing to advocate the UK’s global trade ambitions.’

Greg Hands, a former Chief Secretary to the Treasury, is already a minister at DIT and will take on Lord Price’s portfolio

Dr Liam Fox, International Trade Secretary, said: ‘Lord Price’s hard work and dedication has played a vital part in developing new and existing trade relationships.

‘I know that everyone at DIT would want to extend their thanks to him and wish him the best for his future endeavours.’

Lord Price announced he would write a weekly column in the Daily Telegraph.

His previous book, The Foolish King, focused on teaching children how to play chess.

Mr Hands, a former Chief Secretary to the Treasury, is already a minister at DIT and will take on Lord Price’s portfolio.

A new minister will be appointed in the House of Lords.

Mr Hands said: ‘I’m now looking forward to delivering a trade policy framework for the UK, so that we can take advantage of new trading opportunities with global partners once we leave the EU.’