Dagenham and Rainham MP Jon Cruddas has resigned from Labour’s shadow cabinet to conduct an independent review into the party’s recent election failings.

The former party policy coordinator held onto his seat with a winning margin of 4,980 votes on Thursday – a night that later turned disastrous for Labour.

Ex-leader Ed Milliband stepped down on Friday after the Conservatives won an outright majority for the first time since 1992.

A number of big names including shadow chancellor Ed Balls were among the 48 MPs losing seats.

A prominent Labour figure and co-author of the party’s election manifesto, Mr Cruddas lost out to Harriet Harman in Labour’s 2007 deputy leadership contest, despite public backing from the likes of former London Mayor Ken Livingstone and Roy Hattersley.

Now acting party-leader, Ms Harman revealed a reshuffled shadow cabinet this morning, with Chris Leslie replacing Mr Balls while Hilary Benn became shadow foreign secretary, succeeding Douglas Alexander.

Although not holding a formal role in the party, Labour peer Lord Sugar has also left, saying he “lost confidence” in the party.