View more on these topics

New Treasury and DWP ministers as Hoban returns to backbenches

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.



More than half of UK adults have not made a will

Research suggests over half of UK adults have not written a will, with the proportion of those without one in older age groups risen significantly over the past four years. A poll of 2,000 adults by adviser search website and, the National Will Register, found that 58 per cent of the adult population […]


Countrywide warns of broker recruitment crisis

Countrywide financial services director Nigel Stockton has warned the industry is facing a broker recruitment crisis.

 Speaking at the Financial Services Expo in London last week, Stockton warned lenders will be sweeping up qualified brokers in the run-up to the mortgage market review, when most non-advised sales will be banned. The rules require every mortgage […]


How Aim stocks can relieve the pain of IHT

The recent rule change that allows Alternative Investment Market shares to be held in an Isa has provided a timely reminder of the tax advantages offered by these investments. Whether held inside or outside an Isa, shares in Aim-listed companies provide advisers with a lot of scope for estate planning. Business relief, previously known as […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers. Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm