Nadhim Zahawi has become the latest Tory MP to announce that he will stand down at the next election, saying the time is right for a “new, energetic Conservative to take over.

The Stratford-on-Avon MP, who previously served as chancellor and education secretary, was sacked as Conservative Party chairman in January last year after an inquiry found he had failed to disclose that HMRC was investigating his tax affairs.

In a statement posted on X, Mr Zahawi said he felt immensely privileged to have served as an MP and in government.

He also vowed to continue serving his constituents with “dedication and determination” until the next election, which must take place by January 2025 at the latest.

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Mr Zahawi, who would have been defending a majority of 19,972 had he stood again in the West Midlands constituency, joins a growing number of Conservative MPs deciding to quit politics, including several other high-profile ex-cabinet ministers.

As of 9 May, 64 Conservative MPs have said publicly they were either standing down from parliament or not contesting their seat at the general election.

Former prime minister Theresa May announced in March she would not stand again, becoming the most high-profile departing MP since Boris Johnson resigned after being found guilty of misleading MPs over the Partygate scandal.

Alok Sharma, the former Cop26 president, has also announced he would stand down at the next general election, saying it had been the “honour” of his life to have served as an MP.

Former PM Theresa May announced in March that she would stand down (Hannah McKay/PA) (PA Wire)

Mr Sharma, who represents Reading West, previously held the business secretary brief.

Sajid Javid, the former chancellor, Dominic Raab, the ex-deputy prime minister and Ben Wallace, the former defence secretary - all of whom were at one time touted as potential future Tory leaders - were among the other big-name Conservatives who have called it a day as their party struggles in the polls.

Mr Sharma and Mr Raab, who resigned from his cabinet position following a slew of bullying allegations which he denied, would have been defending majorities of fewer than 5,000 had they stayed on to fight the next election.

Most MPs walking away from politics are Conservatives, which is unsurprising given they are the biggest party, winning 365 seats in the 2019 election.

According to the Institute for Government, the 2010 election saw more than 100 MPs stand down, mainly from the Labour Party, which had been in power since 1997.

Sajid Javid is among the high profile figures stepping down (REUTERS)

Some MPs also announced they were standing down after the expenses scandal the same year.

Of all the 102 MPs standing down ahead of the next national poll, 64 are Conservatives, according to the House of Commons Library.

Harriet Harman, the former Labour leader, Margaret Beckett, the former foreign secretary, and Ben Bradshaw, the former culture secretary, are among the Labour MPs standing down.

The Conservative Party is on course for a heavy defeat at the next election, according to most opinion polls.

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