Solihull MP Lorely Burt has been selected as the co-chair of the newly created Liberal Democrat Parliamentary Committee for Business, Innovation and Skills.
Mrs Burt will be chairing the House of Commons team whilst Lord Razzle will represent the House of Lords.
Speaking on the announcement, Mrs Burt said:
"I am immensely proud of the responsibility I have been given. These new committees are vital in ensuring a working relationship between the members we have in Government and the rest of the party. I will be working very closely with Vince Cable to provide a vital link between the government and the Liberal Democrats.
"The creation of these teams will also ensure that the Liberal Democrats have an independent voice in Parliament. We may be part of the government but we are still an independent party and we have to keep bringing fresh ideas to the table."
Lorely Burt, who was previously the Liberal Democrat spokesperson on small business, also recognises how important business will be given the current economic situation. She added:
'We are a poor financial situation, but business will be the engine that drives the economic recovery and I am very pleased to be involved in shaping the Liberal Democrat policy in this area."
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