Andrew Tyrie to step down from parliament

Chairman of the Treasury Select Committee Andrew Tyrie has announced plans to step down from parliament.

The MP for Chichester said he would not stand for re-election in the upcoming general election on 8th June, though he remains “deeply committed” to public service.

“It has been an exhilarating 20 years,” Mr Tyrie said in a statement.

“I have done what I can to make a contribution, particularly in efforts to improve banking standards and to shape a more trusted and resilient financial sector after the crisis of 2008.

“…I am determined, and hopefully young enough, to contribute in other ways in the years ahead.”

Mr Tyrie was first elected chairman of the Treasury Select Committee in 2010 before again taking the hot seat in 2015.

In April 2016, he oversaw a successful bid to secure greater authority over the FCA after the then chancellor George Osborne granted them power to approve the appointment of its chief executives.

Responding to the news, Andrew Bailey, chief executive of the FCA, thanked Mr Tyrie for his contribution to public policy.

“He has played a major role in enhancing the accountability of economic and financial policy at a time of great change,” added Mr Bailey.

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