The former chancellor and MP for Tatton gives up seat ahead of snap election

Former chancellor George Osborne, 45, has quit as MP for Tatton in Cheshire - sixteen years after his win in the safe Tory seat made him the House of Commons' youngest Tory member.

The decision, announced in the London Evening Standard, follows PM Theresa May’s surprise call for a snap election and criticism of Osborne for taking on the role of editor at the Standard - a role which would have required him to work 200 miles away from his constituency for five days a week.

It is likely that Osborne - who was swiftly dropped from May’s cabinet following her succession in July 2016 - was further impelled to give up his seat with his constituency due to be abolished in upcoming boundary reviews.

In a letter addressed to Conservatives in his constituency, Osborne said he was “stepping down from the House of Commons - for now”, leaving the door open for a return to frontline politics.

He said: "I've had sixteen brilliant years as a Member of Parliament, representing the wonderful people of Cheshire. Their good humour and common sense have kept my feet on the ground through the ups and downs of political life."

Meanwhile, Osborne - a key architect in Manchester’s upcoming Mayoral elections - sought to firm up his commitment to the North, stating “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.”

Osborne’s statement in full:

George Osborne Resignation Statement
George Osborne Resignation Statement 2

Aside from his newly acquired role as Evening Standard editor (which reportedly pays £200k per year), Osborne is said to be raking in £650,000 a year for just four days work a month at BlackRock, £120,000 a year ‘stipend’ from a US Republican thinktank, and almost £800,000 from fifteen speeches given to the Washington Speaker's Bureau since July.

In which case, there's little wonder Osborne has given up his seat in Cheshire... that measly MP's salary of £75,000 barely seems worth the hassle.