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| Version 2 | Version 3 |
|---|---|
| Vadera stepping down as minister | Vadera stepping down as minister |
| (20 minutes later) | |
| Baroness Vadera is stepping down as business minister to take up a new role advising the G20 from Downing Street. | |
| She will focus on the institutions needed to implement the "framework of sustainable and balanced growth" to be agreed this week by the G20. | |
| 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. | 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. |
| A sometimes controversial figure, she became a minister in January 2008. | |
| BBC business editor Robert Peston said it was unclear whether she would be paid in her new role. | 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." | 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." |
| 'Logical move' | 'Logical move' |
| A senior government source told the BBC Baroness Vadera's move was in no way an act of disloyalty and had been in large part the prime minister's idea. | |
| Business Secretary Lord Mandelson said she had made a "tremendous contribution" to his department. | |
| "She has worked tirelessly to ensure businesses, especially small businesses, are supported through the recession and emerge stronger at the other side," he said. | "She has worked tirelessly to ensure businesses, especially small businesses, are supported through the recession and emerge stronger at the other side," he said. |
| "Shriti has real passion for the G20 and has done excellent work already promoting international action to tackle the financial crisis. So this is a logical move for her and us." | "Shriti has real passion for the G20 and has done excellent work already promoting international action to tackle the financial crisis. So this is a logical move for her and us." |
| She will be replaced as minister for competitiveness, small business and enterprise by Mervyn Davies, who is also a former City banker. | |
| In her new role she will effectively be employed by the South Korean government - which is shortly to take over the G20 presidency - but would continue to be based in the Cabinet Office. | |
| Baroness Vadera first hit the headlines in 2001 during the nationalisation of Railtrack after she reportedly called small investors in the company "grannies". | Baroness Vadera first hit the headlines in 2001 during the nationalisation of Railtrack after she reportedly called small investors in the company "grannies". |
| And earlier this year, she was criticised for claiming to see "green shoots" of economic recovery on a day when large job losses were announced. |