1. ITV Report

Ex-chancellor George Osborne confirms he is standing down as MP 'for now'

  • Video report by ITV News Midlands Reporter Ben Chapman

Former chancellor George Osborne has announced he is standing down as an MP and will not contest a seat in the next election.

Mr Osborne broke the news through the Evening Standard newspaper he now edits as he confirmed he would be leaving Parliament "for now".

The 45-year-old - who faced criticism for his dual roles after announcing his surprise editorship role last month - said he would remain "active in the debate about our country's future".

He faced calls to quit the House of Commons over potential conflicts of interest and concern over how much time he could dedicate to his Cheshire constituents, along with five other paid and unpaid roles.

George Osborne had faced calls to quit the House of Commons because of his busy working life outside of Parliament. Credit: PA

Discussing his decision ahead of June's snap election, Mr Osborne said: "It's been a great privilege being the MP for Tatton for 16 years.

"I might be leaving the House of Commons for now but I haven't given up on (the) values of openness, tolerance, diversity, enterprise which make this country so great."

Mr Osborne had confirmed his decision in a letter to Conservatives in his Tatton constituency.

The letter was addressed to Patti Goddard, President of the Tatton Conservative Association. Credit: Twitter/GeorgeOsborne
The two page letter was tweeted out by Mr Osborne. Credit: Twitter/GeorgeOsborne

"At the age of 45, I don’t want to spend the rest of my life just being an ex-chancellor. I want new challenges," he wrote in the letter.

"I will go on fighting for that Britain I love from the editor’s chair of a great newspaper. It’s still too early to be writing my memoirs."

George Osborne has earned lucrative sums on the lecture circuit after his six-year stint as chancellor ended. Credit: PA

His time in politics saw Mr Osborne work under former Tory leaders John Major and William Hague before emerging as David Cameron's right-hand man as shadow chancellor.

He served for six years as chancellor in the coalition government before being ditched from the Cabinet by Prime Minister Theresa May.

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