John McDonnell, a veteran left-winger and Mr Corbyn’s campaign agent, was announced as Shadow Chancellor.
His appointment means that the top four jobs – leader and the shadows for the Chancellor, Home and Foreign Secretaries – are all held by men.
Angela Eagle was appointed shadow Business Secretary and Seema Malhotra was made the shadow Chief Secretary to the Treasury.
Writing on his website last month, Mr McDonnell, the MP for Hayes and Harlington, insisted their economic plans to “tax the very rich and reshape the economy are sound common sense”.
However he recognised that many senior Labour figures were worried, adding: “As people wake up to the prospect of Jeremy Corbyn actually being able to win the Labour leadership, the reaction has become increasingly hysterical, especially from elements of the Labour establishment.
“Some commentators have also prophesied economic and electoral doom if Corbyn is elected. Let’s see if, at least on economic policy, we can return to some level of rational debate.”
He stressed that the deficit had to be eliminated and the UK needed to “live within our means”. But he said: “Where the Corbyn campaign parts company with the dominant economic thinking of both the Conservative government and the other Labour leadership candidates is that we don’t believe that the vast majority of middle- and low-income earners who didn’t cause the economic crisis should have to pay for it through cuts in tax credits, pay freezes, and cuts in essential services.”
Mr McDonnell is considered to be more radical than Mr Corbyn and it had been thought the new leader would resist making him shadow Chancellor for the sake of party unity. Mr McDonnell recently declared he would "swim through vomit" to vote against benefit cuts in defiance of the party line under acting leader Harriet Harman. He once told a union event that he would "like to go back to the 1980s and assassinate Thatcher".
