Former venture capitalist appointed as minister at DfE

John Nash has been a non-executive director at the DfE for more than two years. According to an official statement, Nash has worked increasingly closely with ministers and civil servants on all aspects of the department’s work during that time, particularly on restructuring plans that will see up to 1,000 jobs cut in the Whitehall department.

Nash, who spent 30 years working in the venture capital sector before setting up the education charity Future in 2006, will now take up the post of parliamentary under-secretary of state for schools.

Future has sponsored Pimlico Academy since September 2008. The school was previously in special measures, but was awarded an outstanding Ofsted rating in 2010. Future also sponsors Millbank Primary Academy and has recently announced the opening of Pimlico Primary in September 2013.

Nash is a former chairman of the British Venture Capital Association. He is also a foundation fellow of Corpus Christi College, Oxford and a member of its Investment and Development Committees. He will not be taking a ministerial salary.

The DfE confirmed that Nash would be stepping away from “all relevant business interests” while he is serving as a minister.

Nash and the permanent secretary at the DfE are also “putting in place arrangements to ensure that no conflict arises between his ministerial duties and his charitable interests”.

Education Secretary Michael Gove, said: “I’m delighted that John has joined the education team. He has vast knowledge of the education sector and is the best person to drive through reform started by Lord Hill and continue to raise standards.

“Jonathan Hill has been a fantastic minister whose energy and passion has ensured that the academies and free schools policy has been a great success. I am hugely in his debt for the work he has done since the coalition was formed.”

Nash added: “I have greatly enjoyed working in my capacity as a non-executive director with ministers and officials in the department over the past two years.

“The department is full of highly talented people and I greatly look forward to working even more closely with them. I believe that every child and young person should have the right to a really good education and that education is the key to the future success of our country.”

Lord Hill reportedly tried to resign from his junior schools minister post during the Cabinet reshuffle last year, but the Prime Minister apparently failed to hear him properly owing to be preoccupied with other work. He was promoted to leader of the House of Lords earlier this week, leaving his post at the DfE empty.