Veteran Labour MP Pat McFadden has been appointed the new Work and Pensions Secretary in the latest Cabinet reshuffle, following the resignation of Angela Rayner on Friday.

He replaces Liz Kendall MP who has moved to become the Science, Innovation and Technology Secretary.

Mr McFadden, 60, has been MP for Wolverhampton South East since 2005.

Since last year’s election, Mr McFadden has held the position of Chancellor of the Duchy of Lancaster, a position that effectively put him in charge of the Cabinet Office.

He was previously Minister for Business, Innovation and Skills in Gordon Brown’s cabinet in 2009 and 2010, deputy to Peter Mandelson.

Before that he was Minister of State for Employment Relations and Postal Affairs from 2007 to 2009, and Parliamentary Secretary for the Cabinet Office from 2006 to 2007.

He was appointed Shadow Economic Secretary to the Treasury in 2020 by Sir Keir Starmer and promoted to the Shadow Cabinet in 2021 as Shadow Chief Secretary to the Treasury.

Pension Minister Torsten Bell remains in his post, which reports to both the Department for Work and Pensions and the Treasury.

Jason Stockwood, a businessman and the co-owner of Grimsby Town FC, has become Minister for Investment, jointly in the Department for Business and Trade and the Treasury.  The 54-year-old has been handed a peerage so he can take up his role in the House of Lords.

He is the former head of dating website Match.com. He replaces Poppy Gustafsson, who headed the Office for Investment, which promised a ‘concierge’ service to those looking to invest in Britain.

In other Cabinet moves, David Lammy has taken over as Deputy Prime Minister, while Peter Kyle is the new Business and Trade Secretary, replacing Jonathan Reynolds, who has become chief whip.

Former Pensions Secretary Emma Reynolds, who left the post in January to become Economic Secretary, is now Secretary of State for Environment, Food and Rural Affairs.