Business Minister (2012–2015)
In September 2012, Swinson was appointed Under Secretary of State for Employment Relations and Consumer Affairs in a reshuffle by then Prime Minister David Cameron. She maintained this role for the remainder of the Cameron–Clegg coalition, except for several months of maternity leave between 2013 and 2014.
Swinson initially focused efforts on scrapping the 1871 Pedlars Act, which prevents pedlars (travelling salesmen) and street traders from trading without first acquiring a certificate from the police. In November 2012, Swinson said that the proposed deregulation would help "eliminate barriers to street traders and pedlars by making it easier to trade, boosting retail and helping small traders – including many young entrepreneurs – to expand and grow". The proposal was criticised by the Local Government Association, which claimed that it would lead to a 'free for all' of pedlars targeting vulnerable people. By 2014, however, Swinson announced she would seek to amend rather than repeal the laws.
Swinson opposed forcing companies to adopt gender quotas, stating that such a move would "negatively affect" the performance of businesses. She instead promoted voluntary solutions, telling an event organised by the British Chambers of Commerce, "What women need is confidence, not quotas. So rather than telling companies what to do, we're encouraging them to see the real business benefits of taking voluntary action."
From 2013, Swinson sought to promote fathers' rights in regard to parental leave, bringing forth new legislation which allowed parents to divide parental leave between themselves with an aim to encourage fathers to spend more time with their newborn infants.
In October 2013, controversy emerged after MPs in the House of Commons allowed Swinson, then pregnant, to stand for 20 minutes without offering her a seat. This led to political debate and comment about whether or not it was sexist to give up a seat for a pregnant woman, with Prime Minister David Cameron wading into the row to say that offering pregnant women seats was the right thing to do. Swinson herself later commented that it was not sexist to offer a pregnant woman a seat, and that it was "great for people to offer, and part of life's little courtesies".
In the area of employment, she was supportive of both Zero-hour contracts and flexible working, seeking to promote the latter especially. On minimum wage, in February 2013 Swinson joined calls by other ministers to warn that "caution" was required when increasing it any further amid claims that minimum wage could be cut or frozen if it began costing jobs. Swinson pledged £80,000 of government financial support for the Corporate Human Rights Benchmark, an initiative led by corporations including Aviva Investors and Calvert which measures and ranks performance of global companies in regard to human rights.
Swinson was keen to promote employee ownership, such as employee ownership of shares, through the establishment of a FTSE-compliant UK Employee Ownership Index, supporting measures to reduce regulations for companies choosing to adopt employee ownership practices, and a scheme allowing companies to contractually offer employees £2,000 to £50,000 worth of shares (which would be exempted from capital gains tax) in exchange for waiving certain employee rights. Swinson traced employee ownership back to the philosophy of Jeremy Bentham, and claimed that such ownership models improve productivity and lower absenteeism in staff.
By 2014, it was being reported that Swinson was tipped to replace Alistair Carmichael as Scottish Secretary and enter the Cabinet in a potential reshuffle, which at the time would have made her the youngest female Cabinet member ever and the first Cabinet member to be born in the 1980s. At the same time, however, electoral projections for the 2015 general election showed Swinson was under serious risk of losing her East Dunbartonshire seat to a surge of Scottish National Party support.
Swinson introduced to parliament the Consumer Rights Act 2015 on 23 January 2014, so as to consolidate and update consumer protection law and thereby provide a "modern framework of consumer rights".
Shortly before the 2015 general election, The Times and the Financial Times reported that Swinson was one of a number of prominent 'right-leaning' Liberal Democrat MPs, aligned to then Liberal Democrat leader Nick Clegg, deliberately excluded from campaign funding by former leading Liberal Democrat peer and donor Matthew Oakeshott even though their seats, including Swinson's, were vulnerable marginals.
Swinson was featured in the 2011, 2012, 2013, and 2014 editions of the 'London's 1000 most influential people' list by the Evening Standard.