Tulip Siddiq, elected an MP for the fourth time in the UK's recent general election, has been appointed as Economic Secretary to the Treasury and City Minister by Keir Starmer, the new prime minister.

"Our financial services industry is one of Britain’s greatest assets and will be key to restoring economic growth. There’s no time to waste," she said of her appointment.

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The Economic Secretary to the Treasury is the City Minister and is responsible for financial services. It ranks at Parliamentary Secretary level and the holder does not attend Cabinet.

After Labour formed a Government following the 2024 General Election, she said, "I had the privilege of being appointed Economic Secretary to the Treasury and City Minister. I know that our financial services industry is one of Britain’s greatest assets and will be key to restoring economic growth, and it is a great honour to be given this position."

Before the General Election she served as Shadow Economic Secretary to the Treasury (City Minister) from 2021, where she helped to develop Labour's policies for the City.

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"I consistently held the Tories to account for their disastrous handling of the economy and the appalling cost-of-living crisis they have inflicted on our country," Tulip said.

She also previously served as Shadow Children and Early Years Minister and in Parliament.

"I have been a passionate campaigner for early years education, mental health support and flexible working. I also successfully fought to make pre-natal testing for mothers free on the NHS, and put forward laws to end the indefinite detention of migrants," she said.

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Tulip is the daughter of Bangabandhu SHeikh Mujibur Rahman’s younger daughter Sheikh Rehana and niece of current Bangladesh Prime Minister Sheikh Hasina.