Shriti Vadera is the ministerial equivalent of Marmite. The baroness, known among irreverent officials as “Gordon’s representative on Earth” provokes strong reactions of loathing or loyalty from all who deal with her.

The source of the loathing is not hard to fathom. The former UBS Warburg investment banker enjoys an influence with the prime minister that far outstrips her relatively junior ministerial rank. An eight-year spell in the Treasury, advising the then chancellor, has left her as one of Gordon Brown’s most trusted advisers. Baroness Vadera’s role in putting together last month’s £400bn banking bail out reflects the way she is called on in any financial or economic crisis.