Former Treasury financial secretary Mark Hoban is to stand down from Parliament after 14 years at May’s general election.
The Conservative MP for Fareham caused controversy in his time at the Treasury after saying financial advisers were no more qualified than staff at McDonalds.
In a letter to Tom Fyfe, the chairman of Fareham Conservatives, Hoban says: “I am proud of the work I led to restructure financial services regulation in the UK in the aftermath of the financial crisis.
“I believe it is time to start a new chapter so I have decided not to re-stand in May’s general election. This has been a difficult decision but the right one. It is time to take on some new challenges.”