Shadow cabinet reshuffle: the full list

Who is in and who is out in the new Labour cabinet?

After a series of leaks and rumours this morning, Labour has released the full list of the new shadow cabinet.

Ed Miliband has moved former ministers with government experience into the appropriate roles. Former schools minister Stephen Twigg is replacing Andy Burnham as shadow education secretary, while Burnham, the former health secretary, will head back to health.

As we found out yesterday, however, two former government ministers will be lost from frontbench service. John Denham, formerly shadow business secretary, and John Healey, who was shadow health secretary, both announced that they will stand down, saying they were leaving of their own accord. Denham, who will become Miliband's parliamentary private secretary, also announced he will not stand in the next election.

Several members of Labour's new intake were given promotions. And, not to blow our own trumpet, but several of these featured on the New Statesman's 20 under 40 list of rising stars in parliament.

These are Chuka Umunna, who is taking over from Healey as shadow minister for business, innovation and skills; Rachel Reeves, who will counter Danny Alexander as shadow chief secretary to the Treasury; and Michael Dugher, who will attend shadow cabinet as the shadow minister without portfolio.

Some new MPs missed out -- Stella Creasy and Gloria de Piero were both tipped for roles, but have not made it onto the final list.

Here is the full list:

Leader of the Labour Party
Ed Miliband MP

Shadow Deputy Prime Minister, Party Chair and Shadow Secretary of State for Culture, Media and Sport
Harriet Harman MP

Shadow Chancellor of the Exchequer
Ed Balls MP

Shadow Foreign Secretary
Douglas Alexander MP

Shadow Home Secretary and Minister for Women and Equalities
Yvette Cooper MP

Shadow Lord Chancellor and Secretary of State for Justice
Sadiq Khan MP

Shadow Chief Whip
Rosie Winterton MP

Shadow Secretary of State for Health
Andy Burnham MP

Shadow Secretary of State for Education
Stephen Twigg MP

Shadow Secretary of State for Business, Innovation and Skills
Chuka Umunna MP

Shadow Secretary of State for Defence
Jim Murphy MP

Shadow Secretary of State for Communities and Local Government
Hilary Benn MP

Shadow Leader of the House of Commons
Angela Eagle MP

Shadow Secretary of State for Energy and Climate Change
Caroline Flint MP

Shadow Chief Secretary to the Treasury
Rachel Reeves MP

Shadow Minister for London and the Olympics
Tessa Jowell MP

Shadow Secretary of State for Transport
Maria Eagle MP

Shadow Secretary of State for Work and Pensions and Policy Review Co-ordinator
Liam Byrne MP

Shadow Secretary of State for International Development
Ivan Lewis MP

Shadow Secretary of State for Environment, Food and Rural Affairs
Mary Creagh MP

Shadow Minister for the Cabinet Office
Jon Trickett MP

Labour Party Deputy Chair and Campaign Coordinator
Tom Watson MP

Shadow Secretary of State for Northern Ireland
Vernon Coaker MP

Shadow Secretary of State for Scotland
Margaret Curran MP

Shadow Secretary of State for Wales and Chair of the National Policy Forum
Peter Hain MP

Shadow Leader of the House of Lords
Baroness Royall of Blaisdon

Lords Chief Whip
Lord Bassam of Brighton

Also attending Shadow Cabinet:

Shadow Minister for Care and Older People
Liz Kendall MP

Shadow Minister without Portfolio (Cabinet Office)
Michael Dugher MP

Shadow Attorney General
Emily Thornberry MP

Shadow Minister without Portfolio (Cabinet Office)
Lord Stewart Wood

 

 

Samira Shackle is a freelance journalist, who tweets @samirashackle. She was formerly a staff writer for the New Statesman.

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I was wrong about Help to Buy - but I'm still glad it's gone

As a mortgage journalist in 2013, I was deeply sceptical of the guarantee scheme. 

If you just read the headlines about Help to Buy, you could be under the impression that Theresa May has just axed an important scheme for first-time buyers. If you're on the left, you might conclude that she is on a mission to make life worse for ordinary working people. If you just enjoy blue-on-blue action, it's a swipe at the Chancellor she sacked, George Osborne.

Except it's none of those things. Help to Buy mortgage guarantee scheme is a policy that actually worked pretty well - despite the concerns of financial journalists including me - and has served its purpose.

When Osborne first announced Help to Buy in 2013, it was controversial. Mortgage journalists, such as I was at the time, were still mopping up news from the financial crisis. We were still writing up reports about the toxic loan books that had brought the banks crashing down. The idea of the Government promising to bail out mortgage borrowers seemed the height of recklessness.

But the Government always intended Help to Buy mortgage guarantee to act as a stimulus, not a long-term solution. From the beginning, it had an end date - 31 December 2016. The idea was to encourage big banks to start lending again.

So far, the record of Help to Buy has been pretty good. A first-time buyer in 2013 with a 5 per cent deposit had 56 mortgage products to choose from - not much when you consider some of those products would have been ridiculously expensive or would come with many strings attached. By 2016, according to Moneyfacts, first-time buyers had 271 products to choose from, nearly a five-fold increase

Over the same period, financial regulators have introduced much tougher mortgage affordability rules. First-time buyers can be expected to be interrogated about their income, their little luxuries and how they would cope if interest rates rose (contrary to our expectations in 2013, the Bank of England base rate has actually fallen). 

A criticism that still rings true, however, is that the mortgage guarantee scheme only helps boost demand for properties, while doing nothing about the lack of housing supply. Unlike its sister scheme, the Help to Buy equity loan scheme, there is no incentive for property companies to build more homes. According to FullFact, there were just 112,000 homes being built in England and Wales in 2010. By 2015, that had increased, but only to a mere 149,000.

This lack of supply helps to prop up house prices - one of the factors making it so difficult to get on the housing ladder in the first place. In July, the average house price in England was £233,000. This means a first-time buyer with a 5 per cent deposit of £11,650 would still need to be earning nearly £50,000 to meet most mortgage affordability criteria. In other words, the Help to Buy mortgage guarantee is targeted squarely at the middle class.

The Government plans to maintain the Help to Buy equity loan scheme, which is restricted to new builds, and the Help to Buy ISA, which rewards savers at a time of low interest rates. As for Help to Buy mortgage guarantee, the scheme may be dead, but so long as high street banks are offering 95 per cent mortgages, its effects are still with us.