Former Conservative minister Therese Coffey applies for Labour government job

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former conservative minister Theresa Coffey, Close ally of Former Prime Minister Liz Trussapplied for Ministry of Finance After losing the general election in her constituency.

Ms Coffey, who served as deputy prime minister to Ms Truss, sought to become a UK director of the European Bank for Reconstruction and Development (EBRD) but was rejected.

The Treasury oversees the application process, and the Chancellor of the Exchequer Rachel Reeves The final decision is made on who is appointed to the position.

The environment secretary has backed a herbicide which some research suggests may be harmful to wildlife (Jonathan Brady/PA) （PA Wire）

The position has an annual salary of £183,400 and is a director-level position in the department.

The EBRD is a development bank that provides loans to businesses. It was established in 1991 during the collapse of the Soviet Union to promote the development of market economies in Eastern Europe.

The UK Treasury posted the job ad on LinkedIn in July. The job description said the role would involve “representing the UK on the EBRD Board and promoting UK interests in a credible and effective manner”.

The successful applicant will work with the Treasury policy team and the Foreign Office to “develop and implement a proactive, strategic agenda for UK priorities”.

Ms. Coffey told The Telegraph: “This is an interesting position. Given my experience working in government internationally, I thought I would apply for it.

“I’ve dealt with these types of banks before.”

Chancellor of the Exchequer Rachel Reeves told global investors that “the UK is open for business” (Lucy North/PA) （PA Wire）

The former chancellor was at the head of government when Ms Truss announced a disastrous mini-budget, sending mortgages soaring across the UK.

The Bank of England was forced to intervene and buy long-term UK government bonds to calm the turmoil in financial markets.

This month, Ms Reeves publicly criticised Ms Truss during her tenureHe said: “Millions are still paying for Liz Truss’ disastrous mini-budget.

“That’s why I’m taking the difficult decisions now to repair the foundations of our economy, so that we can rebuild Britain and make every part of our country better.”

The EBRD is owned by 73 countries including the UK, and the Chancellor of the Exchequer is effectively the UK’s senior representative. Each of the 73 countries has its own EBRD representative.

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