LONDON, ENGLAND - AUGUST 14: British Prime Minister Keir Starmer speaks during a VJ Day reception astatine Downing Street connected August 14, 2025 successful London, England. The Prime Minister is hosting veterans, historians, and schoolhouse children during the reception to people the 80th day of Victory implicit Japan Day, oregon VJ Day, which commemorates the announcement of Japan's acceptance of the presumption of the Potsdam Declaration connected August 15, 1945, efficaciously bringing WWII to an end. (Photo by Alberto Pezzali - WPA Pool/Getty Images)
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British Prime Minister Keir Starmer has appointed Minouche Shafik, a erstwhile lawman politician of the Bank of England, arsenic his main economical adviser, portion of efforts to bolster his squad earlier what is acceptable to beryllium a hard extremity to the year.
Shafik's assignment and a determination to bring Darren Jones, concern curate Rachel Reeves' deputy, to his Downing Street bureau bespeak that Starmer believes helium needs amended economical proposal earlier a fund aboriginal this twelvemonth that is expected to see further taxation rises.
Jones volition beryllium replaced by Labour lawmaker James Murray, who held a much inferior relation successful the concern ministry, Starmer's bureau said successful a statement.
In a wider shake-up of Downing Street operations, Starmer besides replaced his main backstage secretary, who runs his team's office, and appointed a caller manager of communications.
After much than a twelvemonth successful power, Starmer's squad has been criticised by immoderate successful his enactment for failing to merchantability his government's sometimes hard argumentation decisions and champion its successes, arsenic Labour's canvass ratings person slumped.
The caller appointments whitethorn fortify the economical proposal Starmer receives earlier a tricky fund for Reeves, who has small country to manoeuvre aft sticking to her alleged fiscal rules with the purpose of balancing day-to-day spending with taxation gross by 2029.
"I deliberation the instauration of a relation for Darren Jones is simply a bully move," said 1 Labour lawmaker. "He's intelligibly got an oculus for the details but understands the authorities too."
Shafik to bring 'additional expertise'
Shafik was the BoE's lawman politician for markets and banking betwixt August 2014 and February 2017, earlier leaving midway done her word to go vice chancellor of the London School of Economics.
In 2023, she became president of New York's Columbia University, but discontinue aft small much than a twelvemonth erstwhile the university's handling of months of pupil protests implicit Israel's warfare successful Gaza drew disapproval from some sides.
Earlier successful her career, Shafik was the apical civilian servant successful Britain's overseas assistance ministry and subsequently lawman managing manager astatine the International Monetary Fund, wherever she oversaw the IMF's enactment successful Europe and the Middle East during the euro portion indebtedness situation and the Arab Spring.
"This relation and the further expertise volition enactment the authorities to spell further and faster successful driving economical maturation and raising surviving standards for all," Starmer's bureau said.
Shafik, who is besides a non-partisan subordinate of parliament's precocious chamber, the House of Lords, was calved successful Egypt and grew up successful the confederate United States, earlier completing a doctorate successful economics astatine the University of Oxford.
In a 2021 book, she called for policies that combined income floors with incentives to work, pensions linked to beingness expectancy, and interventions successful aboriginal puerility to equalise opportunity.
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