Sajid Javid announces to stand down as MP at next election

However, in a signal that he will continue to operate within the political world, he said quitting as an MP would not “mark the end of my Parliamentary activity”.

Mr. Javid has served in ministerial or cabinet-level positions at six different government agencies since his election to the House of Commons in 2010.

Minutes before Prime Minister Rishi Sunak made a similar announcement, he was the first cabinet minister to leave Boris Johnson’s administration in July.

Both have denied coordinating their exits, which prompted a string of other resignations that ultimately resulted in Mr. Johnson’s departure.

Then, Mr. Javid declared himself the front-runner to succeed Mr. Johnson in the Conservative leadership campaign this summer, but he withdrew before the first round of MP voting.

He backed eventual victor Liz Truss and attacked her challenger for the leadership position, Mr. Sunak, for arguing that tax cuts would have to wait until the economy expanded.

Then, in October, he supported Mr. Sunak in his successful campaign to succeed Ms. Truss, although he was not awarded a ministerial seat.

Mr. Javid had previously run for Conservative leader in 2019 but lost in the final round of voting by Tory MPs.

Since leaving the administration this summer, he has delivered several expensive talks to banks, his field of employment prior to entering politics.

He will receive £36,000 for a speech to Deutsche Bank clients in October and £30,000 for a speech to HSBC executives in September, according to the most recent register of MPs’ interests.

Media reports that he has discussed his post-politics career with a number of banks and investment organizations.