FORMER chancellor George Osborne is resigning as an MP to spend more time with his five other jobs. The member for Tatton told local party members that it was time for him to move on and seek “new challenges”.

The Tory politician was recently named as the new editor of the London Evening Standard, a job Osborne said he was “very excited” about.

In a letter to his constituency party, Osborne claimed he would be using the role to provide “straight facts and informed opinion” through the paper’s General Election coverage.

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The Standard were, understandably, the first newspaper to break the story about Osborne stepping down as an MP, though, reportedly, his letter came too late to make their print edition.

Osborne’s departure means that of the so-called “quartet”, the four men in charge of running the country in the days of the Tory-Lib Dem coalition, Osborne, David Cameron, Nick Clegg and Danny Alexander, only one is seeking election.

Former Deputy Prime Minister Nick Clegg said he would ask the voters of Sheffield Hallam to give him another term in the seat he has represented since 2005.

As Editor of the Evening Standard, Osborne will reportedly earn £200k, a year. Significantly less than the £1.5m he earns working for BlackRock, the McCain Institute, and the Washington Speaker’s Bureau.

His work for the Northern Powerhouse Partnership is unpaid.