Shadow Chancellor Anneliese Dodds has been ditched by Labour leader Sir Kier Starmer and replaced in the role by Rachel Reeves (pictured left).
The move comes as part of a wider reshuffle following Labour’s disastrous showing in the local elections last week.
Reeves, a former Bank of England economist, tweeted:
Honoured to accept the role of Shadow Chancellor.
Our economic recovery must be fair. We must transform lives & back businesses in every part of our country.
Together we can create the secure jobs & strong infrastructure we need.
Everyone deserves a stake in Britain’s future.
Meanwhile, Shadow Minister for Housing Thangam Debbonaire moves on from the role after 13 months to become Shadow Leader of the House of Commons.