Former chancellor George Osborne has announced he is standing down as an MP and will not contest a seat in the election.

Mr Osborne broke the news through the Evening Standard newspaper he now edits as he confirmed he would be leaving Parliament "for now".

The 45-year-old - who faced criticism for his dual roles after taking the editorship - said he would remain "active in the debate about our country's future".

The newspaper said he gave the reasons for his decision in a letter to Conservatives in his Tatton constituency.

"At the age of 45, I don't want to spend the rest of my life just being an ex-Chancellor. I want new challenges," Mr Osborne said.

"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."