Former UK finance minister Osborne to step down at June election

Chancellor of the Exchequer George Osborne addresses the Conservative party conference in Birmingham, England.
Matt Cardy | Getty Images

Former British finance minister George Osborne said on Wednesday he would stand down from parliament at June's national election, according to a letter to constituents quoted in the London Evening Standard newspaper.

Last month Osborne, who had been tipped as a future prime minister until he lost his job as finance minister after helping lead the doomed campaign to stay in the European Union, was named editor of the Evening Standard.

He has come under fire for taking on several jobs while remaining a member of parliament, including a part-time job at asset manager BlackRock.

"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," Osborne said 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."