Rachel Reeves has replaced Anneliese Dodds as shadow chancellor as part of Labour’s front bench reshuffle after a disappointing local elections performance last week.
Reeves, the MP for Leeds West, studied at the London School of Economics and worked as an economist for the Bank of England. She served in Ed Miliband’s shadow cabinet as shadow chief secretary to the Treasury from 2011 to 2013 and was most recently shadow chancellor of the Duchy of Lancaster and shadow minister for the cabinet office.
On news of the reshuffle, Reeves said: “[I am] honoured to accept the role of shadow chancellor.
“Our economic recovery must be fair. We must transform lives and back businesses in every part of our country.
“Together we can create the secure jobs and strong infrastructure we need. Everyone deserves a stake in Britain's future.”
Dodds meanwhile has been appointed party chairwoman, replacing Angela Rayner who was removed on Saturday by Labour leader Sir Keir Starmer, a move that drew condemnation from some in the party.
Rayner has been moved to shadow cabinet office minister. Dodds will also chair the policy review into the recent elections.
The moves are part of a wider reshuffle conducted by Starmer after the party was defeated in a highly-contested by-election in Hartlepool, as well as losing 326 council seats, ceding control of eight councils as well as the mayoral elections in the Tees Valley and the West Midlands.
Labour performed better in mayoral elections in London, Bristol and Manchester however, with Andy Burnham winning the latter with 67 per cent of the vote.