Born in
Salford, the second surviving son of Thomas Crompton Waterhouse, of Lomberdale Hall,
Bakewell,
Derbyshire, he was educated at Cheltenham and at
Trinity Hall, Cambridge, graduating with an
MA degree in Economics in 1914. Waterhouse served in
World War I in France with the
1st Life Guards. In 1917 he married Beryl Chrystol Ford, and the couple had two sons and one daughter. He was unsuccessful parliamentary candidate in
Derbyshire North-East at the
1922 General Election and
1923 General Election. He was elected as
Member of Parliament (MP) for
Leicester South at the
1924 General Election, holding the seat until his defeat in
1945 General Election. He was re-elected for
Leicester South-East in 1950, holding that seat until 1957. Waterhouse held office as
Parliamentary Private Secretary to the
President of the Board of Trade in 1928; and to the
Minister of Labour from 1931 to 1934. He progressed through the Whip's office, holding posts as an Assistant Whip in 1935–1936, a Junior
Lord of the Treasury in 1936,
Comptroller of the Household in 1937–1939 and
Treasurer of the Household in 1939. He then held office as
Assistant Postmaster-General from 1939 to 1941,
Parliamentary Secretary to the Board of Trade from 1941 to 1945. He chaired
Tanganyika Concessions from 1957 to 1966. and
Justice of the Peace for Derbyshire. He died in
Sheffield aged 82. ==References==