Ministerial role

Commercial Secretary to the Treasury - Minister of State


The Commercial Secretary is responsible for:

  • EU exit financial services
  • UK productivity
  • industrial strategy
  • digital and energy infrastructure policy
  • city devolution, including Northern Powerhouse
  • working with the rest of government to promote the UK as a destination for foreign direct investment
  • better regulation and competition policy
  • corporate finance, including public corporations, public private partnerships, PFI, and sales of government assets
  • Crown Estate and the Royal Household
  • The Royal Mint
  • energy policy and climate change
  • Women in Finance
  • all Treasury business in the House of Lords

Current role holder: Baroness Neville-Rolfe DBE CMG

Baroness Neville-Rolfe DBE CMG was appointed Commercial Secretary to the Treasury on 21 December 2016, and was previously Minister of State at the Department for Business, Energy and Industrial Strategy.


Lucy was convent educated and studied philosophy, politics and economics (PPE) at Somerville College Oxford. She is also a Fellow of the Institute of Chartered Secretaries.

Political career

She joined the House of Lords as a Conservative Peer in October 2013 and served as Parliamentary Under Secretary of State at the Department for Business, Innovation and Skills and Minister for Intellectual Property from July 2014 until July 2016. From May 2015 she was also Parliamentary Under Secretary of State at the Department for Culture, Media and Sport.

Career outside politics

Lucy worked at Tesco Plc from 1997 to 2013 and was an executive director on the main Board from 2006.

She has also served on the boards of ITV, PwC and Metro AG and the China Britain Business Council and was Chairman of Dobbies Garden Centres Plc. She was also President of EuroCommerce, the EU trade association, between 2012 and 2014.

Until 1997 she was a senior civil servant in the Cabinet Office, the Prime Minister’s Policy Unit and the Ministry of Agriculture, Fisheries and Food.

She was awarded her CMG for her time on the FCO Board and her DBE for services to industry and the voluntary sector.

Personal life

Lucy is married with 4 sons.

Previous holders of this role

  1. Lord O’Neill of Gatley

    • 2015 to 2016
  2. Lord Deighton

    • 2013 to 2015
  3. Lord Sassoon of Ashley Park

    • 2010 to 2013


Get updates to this list email feed

Copy and paste this URL in to your feed reader

  1. UK-India economic and trade relations to take centre stage on two-day visit

    • News story
  2. Commercial Secretary on the Northern Powerhouse

    • Speech
  3. New businesses back the Northern Powerhouse

    • Press release
  4. New £1 coin becomes legal tender

    • News story
  5. Commercial Secretary's speech on digital transformation in infrastructure and engineering

    • Speech
  6. Almost half of UK financial services staff now covered by ground breaking Women in Finance Charter

    • News story
  7. Commercial Secretary's speech at MIPIM

    • Speech
  8. Ministers in latest dialogue with financial services firms

    • News story
  9. "We must all come together to help more women shape a bright future for British nuclear energy", says Commercial Secretary

    • Speech
  10. Resignation of Lord O'Neill and PM response

    • News story