Seen as one of the most ideologically driven Conservatives in Parliament, Mr Duncan supports the stripping down of the role of the state to its bare essentials and the minimisation of taxes.
Education
Born 31 March 1957
Beechwood Park School, St Albans
Merchant Taylors' School, Northwood
St John's College, Oxford (BA philosophy, politics and economics 1979)
Harvard University (Kennedy scholar)
The Rutland and Melton Mowbray MP also believes in the repeal of drugs law, although the section of his book, Saturn's Children, detailing this was excised in its paperback edition after he joined the Tory front bench as a health spokesman in 1998.
His later role as a trade and industry spokesman was aided by his experience as a successful and wealthy oil trader before his election to Parliament in 1992.
By that time, he had already lent his London home to John Major's 1990 leadership campaign team and in 1997 too he backed the winning candidate, William Hague.
His rapid advancement in the party was helped by his alliance with Mr Hague, whom he knew at Oxford and who appointed him a vice-chairman of the party in 1997.
However, Mr Duncan, who was president of the Oxford Union, was subsequently blamed for contributing to the early run of public relations disasters endured by the new leader.
Non-political career
Graduate trainee, Shell International Petroleum 1979-81
Oil trader and adviser on oil supply, shipping and refining 1989-
A staunch Eurosceptic by conviction, he supported Michael Portillo's bid for the Conservative leadership, and announced that the party should reinvent itself as the home of 'sex, drugs and rock'n'roll'.
He is currently a junior foreign affairs spokesman and Iain Duncan Smith has assured him that his latest statement will not hinder his career prospects.
Some commentators even believe his openness could boost his chances of advancing in the Tory ranks.