1942, and as Minister of Production from 1942 to 1945. He was again President of the Board of Trade in Churchill's brief 1945 caretaker government. After the Conservatives' 1951 election victory, he was considered for the job of Chancellor of the Exchequer, but was seen as too linked to business and the City of London, so the job was given to Rab Butler. Instead he became Secretary of State for the Colonies, a position which he held until 1954. The latter year he was elevated to the peerage as Viscount Chandos, of Aldershot in the County of Southampton. Family home In 1948, the 5th Earl Nelson sold Trafalgar Park, Wiltshire, to John Osborne, 11th Duke of Leeds, whose brother-in-law Oliver Lyttelton, 1st Viscount Chandos, lived there while he was an MP. Eventually Lyttleton bought the estate and lived there until 1971, when Jeremy Pinckney bought the house. Later career After ending his career as an MP, Chandos returned to Associated Electrical Industries, and steered it to become a major British company. In 1961 he was invited to deliver the MacMillan Memorial Lecture to the Institution of Engineers and Shipbuilders in Scotland. He chose the subject "Jungle – or Cloister? – Some Thoughts on the Present Industrial Scene". National Theatre In 1962, Chandos became the first chairman of the National Theatre, serving until 1971. He then served as president until his death. His parents had been active campaigners for its development, and the Lyttelton Theatre, part of the National's South Bank complex, was named after him. During Laurence Olivier's tenure as director of the National, Chandos was a central figure in the controversy over a proposed production of Rolf Hochhuth's Soldiers. The production had been championed by Olivier's dramaturg, Kenneth Tynan. Though Olivier, a great admirer of Winston Churchill (who essentially is accused of assassinating Polish Prime Minister General Władysław Sikorski by Hochhuth) did not particularly like the play or its depiction of Churchill (whom Tynan wanted him to play), he backed his dramaturg. There was a potential problem with the Lord Chamberlain, who might not have licensed the play due to its controversial stand on Churchill. The National's board vetoed the production and Lord Chandos damned the play as a "grotesque and grievous libel". Order of the Garter In 1970 he was made a Knight of the Garter. His Garter banner, which hung in St. George's Chapel in Windsor during