George Osborne, Ex-U.K. Finance Minister, To Quit As British Lawmaker

By Carla MozeeMarketsMarketWatch Pulse

Former British finance minister George Osborne will leave his position as a member of the British parliament, the London Evening Standard reported Wednesday. Osborne, 45, became the editor of that newspaper last month. "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, like the success of the Northern Powerhouse," the Conservative Party member wrote in a letter to his constituency, according to the report. News of his resignation came a day after U.K. Prime Minister Theresa May called an early general election to be held on June 8. Osborne was replaced as Britain's Chancellor of the Exchequer in the wake of a government shakeup after the Brexit referendum in June 2016. In January, Osborne was named as a part-time adviser at fund manager BlackRock.

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