George Osborne quits as MP ahead of snap general election

The former chancellor has announced he is stepping down as MP after the Prime Minister called a snap general election.

George Osborne has said he is giving up the Tatton seat he has held for 16 years but he will carry on "fighting for that Britain I love" in his new role as editor of the Evening Standard newspaper.

However, he hinted that he might make a return to the political front line saying he was leaving Westminster "for now".

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In a letter to the Conservatives in his Tatton constituency, he said: "I am stepping down from the House of Commons - for now. But I will remain active in the debate about our country's future and on the issues I care about, like the success of the Northern Powerhouse.

"I want a Britain that is free, open, diverse and works with other nations to defend our democratic values in the world.

"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."

He had been under pressure to stand down over a conflict of interests between his job as MP and the many other roles he has taken on since he was sacked from the Cabinet by Theresa May.

An election made the idea that Mr Osborne could retain his role as MP at the same time as editing a newspaper untenable.

Sky News senior political correspondent Beth Rigby said: "Osborne was waiting in wings for Theresa May to fail on Brexit. A snap election makes that outcome a lot less likely. Bowing out for now makes sense."

Mr Osborne, who is due to take up his newspaper job on May 2, also earns £640,000 a year for one day a week's work as an advisor at fund manager BlackRock.

In the last year he has made £800,000 from 15 speaking engagements, including at City and Wall Street banks.

He also receives a £120,212 allowance as Kissinger fellow at the McCain Institute for a year and has an unpaid role as the chairman of the Northern Powerhouse Partnership.

Mr Osborne is under investigation by the Advisory Committee on Business Appointments over whether he received parliamentary approval to take on the Evening Standard role before accepting the job.

His decision has also triggered a review on MPs and second jobs by the Committee on Standards in Public Life.