Therese Coffey Fails Bid for Treasury Role

Thérèse Coffey, the former Conservative deputy prime minister and ally of Liz Truss, applied for the position of UK director at the European Bank for Reconstruction and Development (EBRD) following her defeat in the general election. The role, which offers a salary of £183,400, involves representing UK interests at the EBRD and requires collaboration with the Treasury and Foreign Office, with the appointment ultimately decided by Labour Chancellor Rachel Reeves. Coffey's application was notable due to her previous government experience and her alignment with the Conservative Party, from which over 200 former MPs are now seeking new opportunities after Labour's election victory. Despite her qualifications and interest, Coffey was not selected for the role, which has drawn attention given the critical stance the Labour leadership has taken towards Truss's administration. Coffey expressed her interest in the role, citing her experience with international work and similar institutions. The EBRD was established in 1991 to support market economies in Eastern Europe and is owned by 73 countries, including the UK.