Vince Cable said: I am delighted with my new job as Secretary of State for Business, Innovation and Skills.
My focus will be on getting banks lending to small and medium sized businesses to create jobs alongside developing the skills and training the country needs to deliver growth.
By working closely with the Treasury, we will rebalance our economy and bring to the fore our vision for how the country will earn its living in the future.
RT HON VINCE CABLE MP: SECRETARY OF STATE FOR BUSINESS, INNOVATION AND SKILLS
Overall responsibility for the department strategy and all policies, overall responsibility for BIS budget, particular focus on business and banking issues, lead Cabinet Minister for reducing regulatory burdens across Government.
DAVID WILLETTS MP: MINSTER OF STATE FOR UNIVERSITIES AND SCIENCE, ATTENDING CABINET
Looking across all departmental business at strategic priorities, higher education (including HEFCE and Student Loans Company), science and research (including Research Councils), life sciences, innovation, also responsible for the Technology Strategy Board, National Endowment for Science, Technology and the Arts (NESTA), Energy Technologies Institute, the National Measurement Office, the Design Council, the UK Accreditation Service, the British Standards Institute and Space.
JOHN HAYES MP: MINISTER OF STATE FOR FURTHER EDUCATION, SKILLS AND LIFELONG LEARNING
Further education, adult skills, Skills Funding Agency, skills strategy, lifelong learning, informal adult learning, apprenticeships, UK Commission for Employment and Skills, Sector Skills Councils, Workplace Training reforms, qualifications reform programme.
MARK PRISK MP: MINISTER OF STATE FOR BUSINESS AND ENTERPRISE
Business sectors, including low carbon economy, low emission vehicles, electronics, small business, enterprise and access to finance, competitiveness and economic growth, deregulation and better regulation, regional and local economic development (including Grants for Business Investment), business support, Olympic legacy, export licensing.
EDWARD DAVEY MP: MINISTER FOR EMPLOYMENT RELATIONS, CONSUMER AND POSTAL AFFAIRS
Postal affairs (Royal Mail and Post Office Limited), employment relations (including ACAS), consumer policy and consumer affairs, competition policy, corporate governance, company law (including Companies House), social enterprise, Insolvency Service (including company investigations), general oversight of Shareholder Executive and its portfolios, coordination of European business, Export Credit Guarantee Department, trade policy.
BARONESS WILCOX: PARLIAMENTARY SECRETARY FOR BUSINESS, INNOVATION AND SKILLS
Covers all BIS business in the Lords, intellectual property (including the IPO).
The trade and investment portfolio will be allocated later.
ED VAIZEY MP (based in DCMS) will report to the Business Secretary as well as to the Culture Secretary in respect of the digital economy and telecommunications.