Kwasi Kwarteng, the man behind the mini-budget that crashed the economy, is to quit parliament.
The former chancellor, who was dramatically sacked by Liz Truss shortly before her own demise as prime minister, made the announcement on X (formerly Twitter).
The Spelthorne MP said: “Yesterday I informed my Association Chair of my decision not to stand at the next General Election.
“It has been an honour to serve the residents of Spelthorne since 2010, and I shall continue to do so for the remainder of my time in Parliament.”
Kwarteng, who was first elected in 2010, announced his decision to quit just hours before Truss is set to embark on the latest leg of her attempted political comeback.
She will join other right-wing Tories at the launch of the Popular Conservatism group - despite polling showing she remains as unpopular as ever following her disastrous 49 days in office.
Rishi Sunak has said he expects the election to take place in the second half of the year, with October or November thought to be the most likely dates.
Kwarteng delivered the mini-budget, in which he announced £45 billion-worth of unfunded tax cuts, on September 23, 2022.
Within hours the value of the pound had plunged, leading to a spike in interest rates and the near-collapse of the UK’s pensions industry.
He was sacked by Truss on October 14 after just 38 days as chancellor.
Kwarteng’s announcement means there are now 57 MPs who were elected as Conservatives at the last election who are standing down at the next election.