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He was previously Secretary of State for Culture, Media and Sport and has also been Minister for Equalities and Financial Secretary to the Treasury.
Before being elected MP in 2010, he worked in business and finance. He became a Vice President at Chase Manhattan Bank, aged 25. He later moved to Deutsche Bank in London to help build its business in emerging market countries. Sajid left Deutsche Bank as a senior Managing Director in the summer of 2009.
He replaces LibDem Vince Cable as the Business Secretary.
Freelancer and self-employed group, IPSE, welcomed the appointment.
Chris Bryce, IPSE Chief Executive, said: “IPSE would like to congratulate Sajid Javid on his appointment as Business Secretary. Mr Javid has consistently shown an understanding and appreciation of the value of small businesses to the UK economy and we look forward to engaging with him on behalf of the UK’s 4.5 million self-employed.
“We know Mr Javid cares passionately about improving the UK’s poor payment culture and we will actively engage with the new Business Secretary on the establishment of a small business conciliation service promised by the Conservative Party in its manifesto.
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“We look forward to strengthening our relationship and working together ensure a level playing field that enables small businesses to fully realise their economic potential.”
John Cridland, Director-General of business group, the CBI, said: “We congratulate Sajid on his appointment as Business Secretary. He was an excellent Treasury Minister and will be a strong voice for the business community, helping to make its voice heard loud and clear at the Cabinet table.
“We want to encourage more companies, especially Britain’s forgotten army of medium-sized businesses, to boost exports and investment, to drive growth and create jobs up and down the country. We look forward to working with Sajid to achieve this.
“As an immediate step, we want the Government to set out a clear business plan for its first 100 days, including getting the deficit down, finding new ways to deliver public services and committing to the Airports Commission’s final decision this summer. We also need policies to bolster our supply chains, and make the UK the destination of choice for manufacturing high-value products.”
Anna Soubry MP becomes Minister of State (Minister for Small Business) and will attend Cabinet.
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Susie Hughes © Shout99 2015
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