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Vadera 'set to leave government' Vadera stepping down as minister
(41 minutes later)
Business Minister Baroness Vadera is expected to leave Gordon Brown's government, the BBC understands. Baroness Vadera is stepping down as business minister and will take up a new role based in Downing Street.
She was appointed in January 2008 following a Cabinet reshuffle. She will advise the G20 on the design of institutions needed to implement the "framework of sustainable and balanced growth" to be agreed this week.
A former investment banker, Baroness Vadera joined the Treasury while Mr Brown was chancellor and has since been one of his closest aides. The former investment banker was a senior Treasury adviser to Mr Brown when he was chancellor and has remained one of his key aides since becoming PM.
Although her departure is not confirmed it is understood she would not return to the private sector but take up some sort of public role instead. Lady Vadera was appointed business minister in January 2008.
BBC business editor Robert Peston said it was unclear whether she would be paid in her new role.
He added: "As Gordon Brown's closest advisor on economic and financial matters, she will be seen as working on what he hopes will be his legacy - a formal structure for creating a more stable global economy."