17:10 BREAKING NEWS : Shadow Chancellor Alan Johnson is to resign "for personal and family reasons".
Ed Balls will replace Mr Johnson, with Yvette Cooper replacing her husband as Shadow Home Secretary and Douglas Alexander taking over the role of Shadow Foreign Secretary and Liam Byrne as Shadow Work and Pensions Secretary. Tessa Jowell becomes Shadow Minister for the Cabinet Office alongside her responsibilities for the Olympics.
In a statement he said: "I have found it difficult to cope with these personal issues in my private life whilst carrying out an important front bench role."
Ed Miliband said he accepted the resignation with "great regret" adding: “Ed Balls is an outstanding economist and is hugely qualified to take our economic message to the country.
“In Yvette, Douglas, Liam and Tessa, we have a team which combines extensive experience in government and determination in opposition.
“I am proud that Labour has a strong, confident Shadow Cabinet that will expose the mistakes of this Conservative-led government.
“Together we will put the economy at the forefront of our argument as we work hard to regain the trust of the British people.