George Osborne won't be a candidate to succeed David Cameron

georgeosborne

Chancellor of the Exchequer, George Osborne has announced that he will not be standing as a candidate to become the next Prime Minister following David Cameron's resignation on Friday, 24th June, but he will continue as the MP for Tatton.

Speaking about the result of last week's EU Referendum, which saw Britain vote to leave the European Union, George Osborne told wilmslow.co.uk "There's no question about me stopping being MP for Tatton. Whatever I do in politics, representing the constituents of Tatton in Parliament is the biggest honour and the responsibility I put first and foremost."

He added "I respect the views of everyone who voted in the referendum; and we must accept the result."

On his Facebook page George Osborne issued the following statement about why he will not be a candidate to succeed David Cameron but will do all he can to fulfil his duty to his country and unite the Conservative party.

I have a simple view of my duty as chancellor of the exchequer and someone who has given much of my adult life to political service. It can be summed up in one phrase: it's my country, right or wrong. I intend to fulfil my responsibilities to my country now.

We have had the EU referendum. The outcome isn't the one I wanted but now we have got to work to deliver the verdict of the people. That doesn't mean that the values I have campaigned so hard for are ones that I am going to abandon — or I think the country should abandon.

First, I believe that the bedrock of social justice is economic security and stability. If our economy isn't creating jobs, if wages are falling, if savings are being eroded, then hopes and aspirations are crushed.

That is why I have spent six years working so hard to turn around the British economy. I took difficult and unpopular decisions with the support of my friend David Cameron and fellow Conservative MPs. The plan we pursued paid off. The UK has been the strongest among advanced economies; a record proportion of our citizens are in work; and the 11 per cent budget deficit I faced on walking into No 11 was on course to be less than 3 per cent this year.

Thanks to the efforts of the British people we did fix the roof, and thank goodness we did. It puts us in the strongest position to deal with the challenge that now confronts us.

We have seen and can expect to see more volatility on the markets. Businesses are already pausing investment. Hiring decisions have been put on hold.

I do not resile from any of the concerns I raised during the campaign. But now we must respond loud and clear: Britain is open for business and the British economy is fundamentally strong.

We've also worked hard to rebuild the strength of our banking system. Robust contingency plans are in place so that the financial system can absorb the shocks rather than amplify them as it did eight years ago.

There are going to be questions about the road ahead, but nothing has changed overnight. We remain in the EU. The prime minister has sensibly delayed the triggering of Article 50 — the formal notification of an intention to leave within two years — and the timing of that will be a matter for his successor. Only the UK can do this, and we should not be rushed. It should only happen when we have a clear view of what our new relationship with our European allies should be, and this will need time and cool heads to determine.

We are also absolutely committed to fiscal responsibility as a crucial requirement of stability. The Office for Budget Responsibility, that we created, will give an independent assessment of the impact on public finances in the autumn and the government will have to respond accordingly, under a new prime minister.

If economic security is the first value to which I hold dear, the second is that Britain should be an open, confident and free-trading nation. That has always been the British way, and it is at the heart of our prosperity.

In my six years as chancellor I have sought new opportunities in China and India, and to build up Britain as a centre of global finance.

We have set among the lowest and most competitive business tax rates in the world. We are going to need these advantages more than ever.

I am very clear that we should be aiming to have the best possible terms of trade in goods and services, including financial services, with the EU. That must be the model we seek.

The third value that runs through my politics is my belief in a tolerant and generous society. Eleven years ago I ran David Cameron's campaign to be leader of the Conservative Party. Our commitment was that we would be a modern, compassionate party that celebrated our multifaith, multirace democracy where people feel free to live their lives as they choose. One of the few pieces of news that put a smile on my face in recent days was when my cabinet colleague Justine Greening announced that she was in a happy, same-sex relationship.

I am deeply disturbed by what we have seen in recent days: reports of Polish community centres being sprayed with graffiti, cards telling people to "get out" pushed through doors, children of immigrants being bullied in schools. This is unacceptable and appalling.

We must be uncompromising in our response: this is not the British way. This is not who we are.

These are the challenges facing Britain's future.

As for my own future, I will not be a candidate in the Conservative leadership election to come.

It isn't in my nature to do things by half-measure, and I fought the referendum campaign with everything I've got. I believed in this cause and fought hard for it. So it is clear that while I completely accept the result, I am not the person to provide the unity my party needs at this time.

Instead, as chancellor, I will be 100 per cent focused on providing the economic stability and reassurance Britain needs. And I will do all I can to support the new prime minister in bringing our party back together and tackling the country's challenges.

Britain has a great task now to make its new position in the world work. Let's be confident that whatever difficulties confront us as we negotiate it, we do so from a position of hard-won strength.

As has always been the case in our history, it is at its moments of greatest challenge that our country must demonstrate its greatest resolve.

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Comments

Here's what readers have had to say so far. Why not add your thoughts below.

Simon Worthington
Wednesday 29th June 2016 at 12:21 pm
Good one George. You backed the wrong horse and have consistently backed low interest rates which have only served to transfer wealth from savers to borrowers - your government being a major borrower. Time to trot off to the back benches and consider doing a Kinnock (line your pocket from the public purse) or a Blair (line your pocket with what any desperado will give you). I am sure the allure of those lovely leather seats and fine dining in corporate boardrooms will prove irresistible.
Pete Taylor
Wednesday 29th June 2016 at 2:54 pm
This fellow has failed every one of his own targets. He now finds that the majority of his constituents voted the opposite way to him in the referendum. imho he should, as they say in Westminstershire be "considering his position".
Stuart Kinsey
Wednesday 29th June 2016 at 4:13 pm
George Osborne was one of the most significant contributors to the cause of panic following the Brexit decision, having issued warnings of every peril imaginable in an attemp to justify the "remain" campaign. George, if you don't agree with me, stand down as an MP now and try to get re-elected for Tatton ... then we'll see which of us is right. Go on ... resign!
Terry Roeves
Wednesday 29th June 2016 at 5:46 pm
With also Michael Jones and Physiogate not yet determined, no wonder he has sold his constituency home. Tatton needs a fresh start, as does CE.
Mark Russell
Wednesday 29th June 2016 at 6:22 pm
So despite all the rot this guy threw at us before the vote, the ftse 100 is back at pre vote levels today, not one week to bounce back. Couldnt predict the time in five minutes with a digital watch, bye bye george.
Pete Taylor
Wednesday 29th June 2016 at 8:25 pm
Well, our (Heir to two Irish Baronetcies) MP never did have a Constituency home in Tatton, the one he flipped and made a handsome profit (with borrowed public money) on was in Rainow, which is in the Macc Constituency. His old man still has not paid any corporation tax on the wallpaper company profits for... Is it ten years now?
The billionaires have taken their FTSE profits and the "markets" (try buying a carrots and spuds there) have returned to normal casino-mode. The currency dealers will take a few days to extract their profits before returning to norm. Ozzies cunning scare/revenge ploy had the desired effect. His mates are coining it.
I do feel rather sorry for all those under35sters who have been bleating about "we wuz robbed". I worked 7 days, 12 hours to buy my stuff; they seem to think they are "entitled" to get everything, right now and at someone else's expense. Educated; are they? A degree in basket-weaving at the University of Congleton might be less useful than an "O" level in life-skills at the school of hard knocks, in the real world.
The people have had their say, party politics has been exposed as a total sham; let's move forward.
Nick Jones
Friday 1st July 2016 at 7:28 am
I wonder what the principled, and distinguished Martin Bell is doing ?
Trusted by ALL... and other than the 'Alec Guinness style white suit '... he did a great Job with impartiality and integrity at Tatton .. and should have stood for a second and third term !
Mabel Taylor
Friday 1st July 2016 at 8:38 am
Martin Bell is an ambassador for UNICEF.
He refused to stand again for Tatton as he had pledged not to do so, and felt if he went back on his word he would be just like most other politicians who say one thing and do something else.
He is still very much missed in Knutsford, as he lived in the constituency and was a familiar figure walking around the town, always ready to stop and chat with anyone who approached him with a problem.
Pete Taylor
Friday 1st July 2016 at 9:06 pm
Osborne abandons his decade-long plan. http://dailym.ai/29d4PD1
Finally he takes notice of what folks with qualifications and experience in the world of finance have been telling him for years!
Pete Taylor
Monday 4th July 2016 at 10:12 am
Now the lame-duck Chancer is going to reduce Corporation Tax (already the lowest in the EU) even further in a desperate attempt to make the UK a tax-haven for the uber-rich.

As for the mythical Northern Poorhouse: this report makes very interesting reading: http://bit.ly/29gzvVJ

All smoke and mirrors!
Keith Chapman
Monday 4th July 2016 at 9:18 pm
George Osborne has proved to be a very effective constitiuency MP and an excellent Chancellor. With the deficit expected to be only 4 percent of GDP this year (even with the Brexit uncertainties) we should be pleased with the outcome. The target of balancing the public finances has rightly been postponed to take account of the possibility of a Brexit induced slow down. The NHS continues to receive year on year real funding increases. We are growing faster than any other European economy. Hopefully we can continue to grow even as we move towards exit from the EU. We now need a new Prime Minister to lead Brexit negotiations, and to set the right course to make the most of the opportunities opening up for the UK.
Stuart Redgard
Tuesday 5th July 2016 at 12:30 am
Nick Jones: The reason why Martin Bell did not stand for a 2nd term was because of exactly what you say about him. "He was a man of integrity". He said that he would only stand one term when he was running his election campaign. And that is the sole reason why he did not stand a second time. He did say latter that he regretted making that promise but as a man of integrity he stood by it.
Stuart Redgard
Tuesday 5th July 2016 at 12:49 am
Keith Chapman: Whilst I respect your opinions I don't totally agree with them. In particular the one that ....."George Osborne has proved to be a very effective constituency MP".

I am not aware of him holding surgeries like many other MP's do where their constituents can book an appointment to see their MP. So how often does he meet individual constituents to talk about matters relating to them? My personal experience is that he does not do this. Having asked to meet him on several occasions to speak about government policies that have directly affected me, he has always declined to do so.

Having written and asked him a specific question, he was written back and failed to answer the specific question asked. Rather, he chose to give information on a completely different issue.

I understand that he visits the consituencey once a week on a Friday and often returns to London later the same day. I also believe that he does not own a residence in the constituency but when he does stay overnight he stays at the house of a friend.

I would be interested to find out why you hold the option that ..""George Osborne has proved to be a very effective constituency".
Philip Barton
Tuesday 5th July 2016 at 10:13 am
Ignorance is Bliss.I am sure it is ignorance it surely cannot be malicious lies.
1. George Osborne holds regular surgeries. Ask anyone who has asked to meet him to resolve personal issues. Contact his office if you wish to discuss an issue.
2. The assertion that Tatton voted leave is almost certainly untrue. There are no formal records per constituency and Cheshire East did vote to leave by 1.5% margin, however the votes were counted separately for Macclesfield and Tatton together at Macclesfield, and the rest of Cheshire East at Crewe . The Macclesfield and Tatton result was 54% for remain, 54,912 remain to 46,164 leave. Those at the count report Tatton was most probably remain.
This is all a matter of public record on the Cheshire East site so I am surprised someone would get this so wrong.
Philip Barton
Tuesday 5th July 2016 at 12:53 pm
Correction CE total was 51.2% to 48.8% or 2.4% majority for leave
Keith Chapman
Tuesday 5th July 2016 at 2:16 pm
Stuart, as has been pointed out George Osborne holds regular surgeries and is always ready to meet with Constituents. He also holds down a very important (more than full time job) as Chancellor of the Exchequer. He balances these two commitments well. He had also been a great advocate of investment in the wider North West region, backing HS2 and HS3 and having brokered a major devolution of NHS funding and responsibility to the Manchester area (Northern Powehouse). George has increased his majority at every election since his adoption which is a reflection of his impact as our Member of Parliament.