Labour's new shadow cabinet: the full list

All the details of Ed Miliband's new team.

Leader of the Opposition and 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 and Chair of General Election Strategy
Douglas Alexander MP

Shadow Home Secretary
Yvette Cooper MP

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

Opposition Chief Whip
Rosie Winterton MP

Shadow Secretary of State for Health
Andy Burnham MP

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

Shadow Secretary of State for Work and Pensions
Rachel Reeves MP

Shadow Secretary of State for Education
Tristram Hunt MP

Shadow Secretary of State for Defence
Vernon Coaker MP

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

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

Shadow Leader of the House of Commons and Chair of the National Policy Forum
Angela Eagle MP

Shadow Secretary of State for Transport
Mary Creagh MP

Shadow Secretary of State for Northern Ireland
Ivan Lewis MP

Shadow Secretary of State for International Development
Jim Murphy MP

Shadow Secretary of State for Scotland
Margaret Curran MP

Shadow Secretary of State for Wales
Owen Smith MP

Shadow Secretary of State for Environment, Food and Rural Affairs
Maria Eagle MP

Shadow Minister for the Cabinet Office
Michael Dugher MP

Shadow Minister without Portfolio and Deputy Party Chair
Jon Trickett MP

Shadow Minister for Women and Equalities
Gloria De Piero MP

Shadow Chief Secretary to the Treasury
Chris Leslie 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 for Housing
Emma Reynolds

Shadow Attorney General
Emily Thornberry MP

Shadow Minister without Portfolio (Cabinet Office)
Lord Wood of Anfield

Coordinator of the Labour Party Policy Review
Jon Cruddas MP

In addition:

Liam Byrne MP has been appointed Shadow Minister for Higher Education

Stephen Twigg MP has been appointed Shadow Minister for Political and Constitutional Reform

Karen Buck MP and Wayne David MP will be PPS to the Leader of the Labour Party.

Lord Falconer of Thoroton will advise on Planning and Transition into Government

Spencer Livermore has been appointed the General Election Campaign Director.

Ed Miliband speaks at the Labour conference in Brighton last month. Photograph: Getty Images.

George Eaton is political editor of the New Statesman.

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Let's turn RBS into a bank for the public interest

A tarnished symbol of global finance could be remade as a network of local banks. 

The Royal Bank of Scotland has now been losing money for nine consecutive years. Today’s announcement of a further £7bn yearly loss at the publicly-owned bank is just the latest evidence that RBS is essentially unsellable. The difference this time is that the Government seems finally to have accepted that fact.

Up until now, the government had been reluctant to intervene in the running of the business, instead insisting that it will be sold back to the private sector when the time is right. But these losses come just a week after the government announced that it is abandoning plans to sell Williams & Glynn – an RBS subsidiary which has over 300 branches and £22bn of customer deposits.

After a series of expensive delays and a lack of buyer interest, the government now plans to retain Williams & Glynn within the RBS group and instead attempt to boost competition in the business lending market by granting smaller "challenger banks" access to RBS’s branch infrastructure. It also plans to provide funding to encourage small businesses to switch their accounts away from RBS.

As a major public asset, RBS should be used to help achieve wider objectives. Improving how the banking sector serves small businesses should be the top priority, and it is good to see the government start to move in this direction. But to make the most of RBS, they should be going much further.

The public stake in RBS gives us a unique opportunity to create new banking institutions that will genuinely put the interests of the UK’s small businesses first. The New Economics Foundation has proposed turning RBS into a network of local banks with a public interest mandate to serve their local area, lend to small businesses and provide universal access to banking services. If the government is serious about rebalancing the economy and meeting the needs of those who feel left behind, this is the path they should take with RBS.

Small and medium sized enterprises are the lifeblood of the UK economy, and they depend on banking services to fund investment and provide a safe place to store money. For centuries a healthy relationship between businesses and banks has been a cornerstone of UK prosperity.

However, in recent decades this relationship has broken down. Small businesses have repeatedly fallen victim to exploitative practice by the big banks, including the the mis-selling of loans and instances of deliberate asset stripping. Affected business owners have not only lost their livelihoods due to the stress of their treatment at the hands of these banks, but have also experienced family break-ups and deteriorating physical and mental health. Others have been made homeless or bankrupt.

Meanwhile, many businesses struggle to get access to the finance they need to grow and expand. Small firms have always had trouble accessing finance, but in recent decades this problem has intensified as the UK banking sector has come to be dominated by a handful of large, universal, shareholder-owned banks.

Without a focus on specific geographical areas or social objectives, these banks choose to lend to the most profitable activities, and lending to local businesses tends to be less profitable than other activities such as mortgage lending and lending to other financial institutions.

The result is that since the mid-1980s the share of lending going to non-financial businesses has been falling rapidly. Today, lending to small and medium sized businesses accounts for just 4 per cent of bank lending.

Of the relatively small amount of business lending that does occur in the UK, most is heavily concentrated in London and surrounding areas. The UK’s homogenous and highly concentrated banking sector is therefore hampering economic development, starving communities of investment and making regional imbalances worse.

The government’s plans to encourage business customers to switch away from RBS to another bank will not do much to solve this problem. With the market dominated by a small number of large shareholder-owned banks who all behave in similar ways (and who have been hit by repeated scandals), businesses do not have any real choice.

If the government were to go further and turn RBS into a network of local banks, it would be a vital first step in regenerating disenfranchised communities, rebalancing the UK’s economy and staving off any economic downturn that may be on the horizon. Evidence shows that geographically limited stakeholder banks direct a much greater proportion of their capital towards lending in the real economy. By only investing in their local area, these banks help create and retain wealth regionally rather than making existing geographic imbalances worce.

Big, deep challenges require big, deep solutions. It’s time for the government to make banking work for small businesses once again.

Laurie Macfarlane is an economist at the New Economics Foundation