TSC’s Chuka Umunna becomes Shadow business minister

Treasury select committee member Chuka Umunna has been promoted to Shadow business minister.

He will work under Shadow Business Secretary John Denham, leading on small businesses and access to finance, competitiveness, enterprise and growth, and deregulation and better regulation.

Umunna says: “I am deeply honoured and grateful to have been appointed to serve as Shadow business minister in John Denham’s team.”

Umunna was elected to the House of Commons as the MP for Streatham last May and became Parliamentary private secretary to Labour leader Ed Miliband after he was elected to lead the party.

He replaces MP for Ochil and South Perthshire, Gordon Banks who resigned to concentrate on his constituency.

His work on the TSC will put him in good stead for the role having looked in detail at the Government’s proposed changes to the regulatory architecture, competition in the banking sector, the Comprehensive Spending Review and the Budgets carried out since he was elected.