Tulip Siddiq appointed Labour's City minister

Joins UK Chancellor Rachel Reeves' team

Tulip Siddiq has been appointed Labour's City minister following last week's election, in which the party gained a landslide majority in parliament.

Siddiq will be responsible, among others, for detailing financial services policy, reform and regulation, succeeding Conservative rival Bim Afolami. She was elected a Labour MP for Hampstead and Highgate in this year's UK elections. In May, Siddiq told the Financial Times the Labour government will push the Financial Conduct Authority to "tear down the barriers to competitiveness and growth" once they get elected. In addition, she said Labour will seek to "improve accountability and promote innovation in regulation across sectors" through the cabinet's proposed Regulatory Innovation O...