SIR Mel Stride, the MP for Central Devon, has today, Monday, August 31, been replaced as Shadow Chancellor by Andrew Griffith MP, formerly Shadow Business Secretary, by Conservative leader Kimi Badenoch in her Shadow Cabinet reshuffle.

Badenoch paid tribute to Sir Mel's work as shadow chancellor saying he helped the party rebuild economic credibility and become an effective opposition.

Sir Mel, who was appointed to the role following Badenoch's leadership election in November 2024, described his time in the senior Tory role as a "great honour".

He added: “I am now looking forward to continuing to make a real contribution to the Conservative team in Parliament and beyond, to build and amplify our vision for Britain, from the back benches."

In a statement he released on X, Mel said: “I am especially proud of the work we have done to rebuild the Conservatives' economic credibility - an issue on which we now consistently lead in the polls - and to have developed the start of a radical and deliverable plan to turn our economy around.”

He said that the country needs a credible Conservative plan to deliver far stronger economic growth.

He added: “That starts with establishing fiscal responsibility and taking the tough choices on spending, allowing us to get on top of our debt and to cut taxes to support growth.

“I am proud that we have made an important start with our pledges to abolish Stamp Duty, cut business rates and increase the incentives for people (especially young people) to work, as well as tackling the overbearing state that is so often holding us back.

“The Conservative party must continue to champion an approach which is both radical and deliverable. It is essential that the next Conservative government does things very differently, backing business like never before and getting government out of the way. The Conservatives have a good story to tell on this now and one that I know will continue to grow stronger and stronger under Kemi’s leadership.

He was elected the Conservative MP for Central Devon in 2010, aged 48, holding the seat since that time.

Mel was educated at Portsmouth Grammar School and at Oxford University, where he was elected President of the Oxford Union.

Mel set up his own business in 1987 specialising in trade exhibitions, conferences and publishing. He expanded this venture into the United States, working there before selling the US company.

Mel previously served as Financial Secretary to the Treasury, Paymaster General, Leader of the House of Commons, Secretary of State for Work and Pensions, Shadow Secretary of State for Work and Pensions before becoming Shadow Chancellor.

On Rishi Sunak’s departure he launched his bid to become Leader of the Conservative Party, but was eliminated on the second ballot of MPs.

Before becoming MP for Arundel and South Downs in 2019, Andrew Griffith served as a top executive at Sky and as chairman of Just Eat.

He said: “It is a huge honour to become Shadow Chancellor for the party.

“Working as a team, we Conservatives will deliver an economic revolution.

“We will deliver lower, simpler taxes, get Britain drilling again to bring down energy costs, slash the red tape holding Britain back, and scrap the job-killing measures in Labour’s (Un)Employment Rights Act.”

Tom Tugendhat becomes Shadow Foreign Secretary, replacing Dame Priti Patel.

Claire Coutinho, previously Shadow Energy Secretary, will replace Griffith as Shadow Business Secretary.

Further announcements are expected to be made about the reshuffle.