Conservative MP Sajid Javid has been named as Treasury financial secretary following a Government reshuffle.
Prime Minister David Cameron announced a series of ministerial changes this week affecting both the Treasury and the Department for Work and Pensions.
Javid, who was previously Treasury economic secretary, replaces Greg Clark, who has been appointed as minister of state (cities and constitution).
Conservative MP Nicky Morgan takes on the Treasury economic secretary role following Javid’s promotion.
Esther McVey, who is also a Tory MP, will take over from Mark Hoban as employment minister at the Department for Work and Pensions. Hoban returns to the backbenches.
The BBC quoted Hoban as saying he is looking forward to expressing himself in speeches “rather than whispered conversations in corridors”.
Liberal Democrat pensions minister Steve Webb’s position has not been affected by the reshuffle.
Labour leader Ed Miliband has also reshuffled his ministers, promoting Treasury chief secretary Rachel Reeves to Shadow Work and Pensions Secretary. Reeves replaces Liam Byrne in the role.
Reeves was a Bank of England economist before being elected as MP for Leeds West in May 2010. She was Shadow pensions minister from October 2010 to October 2011 before moving to the Treasury.
Chris Leslie will replace Reeves as Shadow Treasury Chief Secretary as he moves up from Treasury financial secretary to shadow Danny Alexander and attend shadow cabinet.
Emma Reynolds has been moved from the foreign office brief to become shadow housing minister and attend cabinet. She replaces Jack Dromey on housing.
Labour MP for Cumbernauld, Kilsyth and Kirkintilloch East Gregg McClymont retains his position as shadow pensions minister.