Vince Cable and Jeremy Hunt take business and culture briefs

BIS, which was formed in June 2009, holds responsibility for design policy at Government level. Cable, who has been the Liberal Democrats’ main economic spokesman since 2003, succeeds Lord Mandelson, who had headed up BIS since its inception.

Conservative MP David Willetts becomes Minister for Universities and Science, which is part of BIS. He replaces both Lord Drayson, previously Minister for Science and Innovation, and David Lammy, who was Minister for Higher Education and Intellectual Property.

Conservatives Mark Prisk and John Hayes have also been appointed as ministers in BIS.

Hunt replaces Ben Bradshaw, and also takes on Tessa Jowell’s Olympics brief.

Cable, Hunt and Willetts have been appointed as part of the Conservative/Liberal Democrat coalition Government, in which Conservative leader David Cameron becomes Prime Minister, and Liberal Democrat leader Nick Clegg becomes Deputy Prime Minister.